Aug 8 2017

Construction loan calculator #loan #calculater

#construction loan calculator

Build your dream from the ground up.

Your first step in securing a construction loan should be to talk to your TD Bank mortgage advisor. The amount you may borrow will be an important part of your discussions with your builder in deciding what to include in your new home. An advisor can also answer your questions about how construction loans are structured.

  • To get qualified, you will need to provide your basic debt, income and asset information
  • To apply for a construction loan, you will need to have a signed construction or purchase contract with your builder or developer. The contract will detail certain aspects that will impact your loan, such as:
    • Contract amount, which includes construction and cost of land, if applicable
    • Construction start and completion dates

A construction loan can include:

You may plan to use the proceeds from the sale of your current home to help finance the construction of your new home. Construction loans at TD Bank are structured to meet your specific needs, and a mortgage advisor can help you understand your best options when you discuss your loan qualifications and mortgage application.

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