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Texas
Plano
Construction Loan Financing Term Sheet

Plano Texas Construction Loan Financing Term Sheet

Category:

Loans and Lending - Financing

State:

Multi-State

City:

Plano

Control #:

US-ENTREP-0040-2

Format:

Word;

Rich Text

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Description

The term sheet is an important document in commercial real estate lending. It is used to outline the terms of a potential loan prior to fully underwriting the deal and issuing a commitment letter.

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Interesting Questions

What happens if my construction goes over budget?

If your project runs over budget, you might need to secure additional financing. It’s important to have a cushion, just in case things don’t go according to plan.

What interest rates should I expect for construction loans in Plano?

Interest rates for construction loans can vary, but they tend to be higher than traditional mortgages. It's a bit of a trade-off for the risk involved in funding new construction.

How long do construction loans in Plano typically last?

Construction loans in Plano usually last for a short period, often around 12 to 18 months. It's like a sprint, not a marathon, designed to get you through the building phase.