Construction Loans

Construction loans are specialized short-term mortgages designed to finance the building or major renovation of residential or commercial properties. Unlike traditional home loans, construction financing is typically disbursed in stages, or “draws,” as work progresses. This ensures that funds are used efficiently and that projects stay on schedule. Construction loans are ideal for real estate investors, developers, or homeowners looking to build a new home from the ground up or undertake extensive renovations.

Lenders evaluate construction loans differently than conventional mortgages. Instead of focusing solely on the borrower’s income, credit, and financial history, they also assess the project’s feasibility, construction plans, and projected property value once completed. Because construction loans carry higher risk, they often have higher interest rates and shorter terms, typically ranging from 12 to 24 months. Once construction is complete, borrowers can refinance the loan into a traditional mortgage or sell the property to repay the financing.

Construction loans can cover a wide range of expenses, including land acquisition, labor, materials, permits, and other development costs. They offer flexibility for borrowers to manage cash flow and ensure the project is completed successfully.

At Maxim Real Estate Group, we specialize in helping clients secure construction loans that align with their goals. Our team works closely with borrowers to evaluate project plans, determine funding needs, and navigate the loan process efficiently. Whether you’re building a custom home, renovating a property, or developing a commercial space, construction loans from Maxim Real Estate Group provide the financing, guidance, and support needed to bring your project to life.

With expert assistance and fast, reliable funding, construction loans empower borrowers to turn real estate visions into reality while managing risk and maximizing potential returns.