CALL US AT (310) 734 4044

A Hard Money Construction Loan Helps to Build Your New Dream Home!

Nowadays, a hard money construction loan is becoming more popular than ever and you’re choosing to
build their dream home. So, if you are looking to build your build or renovate the home, it is the best
time to do it. Hard Money Construction Loan is financing the cost of constructing your new dream
home. A hard money lender will secure a mortgage over the real estate property you are financing and
they will make periodic payments to your builder at periodic intervals as the work progresses. Here are
the general document requirements and policies that a hard money lender adopts when processing a
hard money construction loan application:
I) Copy of the fixed price building contract
II) Council Approved Plans and Specifications
III) Hard money lender will fund the loan amount required by you to cover the cost of purchasing a
vacant land and for the building construction costs
IV) Before construction starts and if you have already borrowed to purchase vacant land on which you
are building your new dream home, the first loan disbursement made by the lender will go towards
paying off the vacant land
V) Lender will break down the loan amount into “progress payment draw down” amounts, which are
made to the builder at the completion of each construction stage
And here are the constructions stages of progress payments:
I) For the purchase of the vacant land
II) After the laying of the flooring
III) After the installation of the roof
IV) At lock-up stage, and
V) At the completion stage
Hard money construction loan works quite fast rather than traditional construction loan. Hard money
lender provides you quick approval on your loan application.
Magna Capital Group is a reputable hard money construction loan provider in California. We
understand the complexity and details of construction projects. We are fast, creative and reliable
consultants with the experience and lending sources to keep your project momentum moving forward.
We offer construction loan for all kinds of residential and commercial projects. We provide the best
loan programs to meet your financial goals. If you have any need of construction loan, Call (323)655-6888 or Email at

To learn more about our financing solutions for residential and commercial properties, please call us at (310) 734-4044 or visit us at

(1 votes, average: 5.00 out of 5)

Join our Team
Magna Capital Group, Inc is actively seeking for self-motivated, driven loan officers to become a part of our successful and growing... Read More
About Us
The principal of the company has over 30 years of experience in the industry. Our mission is to treat our valued clients with honesty... Read More
Magna Capital Group, Inc., Real Estate, Los Angeles, CA
Accredited Real Estate Services, Magna has 30+ years of combined experience in the Real Estate & Financial Services business. Read More
Magna Capital Group, Inc is a full service real estate and financial services company. We provide specialized services to our clients... Read More
Mortgage Rates
Current Mortgage Rates Current Mortgage Rates Get Widgets

Real Estate Most Recent News

Zell Is Cautious on Real Estate

Sam Zell gained the nickname "the grave dancer" in the early 1990s for buying beaten-down real-estate properties and riding them to huge recoveries. During the recent downturn, he rarely has made it to the funeral.

Standard Deviation in Manhattan

The owners of the Standard Hotel have resisted unsolicited offers for the trendy hotel. But now they have decided to put it up for sale.

Blackstone Revisits Hilton Debt Deal

As Blackstone Group prepares to return Hilton Hotels to the public market, it once again is planning a huge mortgage-backed securities deal that will test the debt market.

Developers Bet Big on Seattle

Office space is going up on faith that companies such as and Microsoft will fill it as the city's technology sector booms.

Hong Kong Infrastructure Costs Escalate

The scope of infrastructure development Hong Kong has in the works is extreme even by its standards, with the pace of construction taking a toll on labor availability and straining budgets

Behind Venezuela's Odd Property Boom

Venezuela seems an unlikely place for U.S. companies to buy commercial real estate. So why are DirecTV, Avon, GM and other firms snapping up office buildings in Caracas?