If you are looking to open a construction line of credit, reach out to our team to find out what we can do for you.
Throughout his 35-year career in the commercial banking arena, our founder, Lyndon Matteson, has worked extensively with real estate investors and developers. Today, we offer direct lending through the company he founded, Investor Loans Express, and one of the services our team provides is construction lines of credit.
A construction line of credit differs in important ways from a standard new construction loan. A line of credit is a specific amount of capital issued by a lender to a borrower, and the borrower can draw on it at any time. Lines of credit offer borrowers greater flexibility than standard loans, as the lender does not monitor a line of credit as closely, which means contractors have more freedom in what they are able to purchase with these funds. In addition, construction lines of credit have an interest-only payment structure—instead of being required to stick to a payment schedule and pay down the loan within a certain number of years, you can pay as you go, similar to the way you pay for your credit card purchases. Lastly, there are no prepayment penalties associated with construction lines of credit, meaning you can pay the balance down to $0 whenever you have the cash available to do so.
We are proud to serve the Finger Lakes, New York, and we want to help local real estate investors and contractors like you get the funding you need to take your operations to the next level. If you are interested in opening a construction line of credit, simply give us a call to get started.
At Investor Loans Express, we offer construction lines of credit in Upstate New York, including Buffalo, Rochester, Syracuse, Seneca Falls, Watkins Glen, Skaneateles, Canandaigua, Hammondsport, Aurora, Geneva, Trumansburg, Ithaca, Penn Yan, Auburn, Corning, Naples, and the Finger Lakes.