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 info@magnaloans.com.

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

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