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A construction loan can be for building contractors and owner/builder to construct single family and multi-family homes or commercial buildings. The loan maturity can match the construction period, with interest only payments during construction. This is a fast and inexpensive way to easily convert to a long-term mortgage loan.
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Building contractors and owner/builder to construct single family and multi-family homes and commercial buildings
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Interest only during construction
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Maturity matches construction
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Fast and inexpensive way to easily convert to a long-term mortgage loan