Use a Citizens Bank Commercial Construction Loan for vertical projects.
These loans include ongoing review of construction plans, associated costs, surveys, title policies, appraisals, and a number of items related to the construction process.
- Costs are reviewed by an experienced construction loan analyst or real estate banker (although this is NOT a guarantee as to the accuracy of the construction budget).
- Draws are monitored against the balance of the cost to complete the project.
- Interest is paid only on the amount borrowed as construction progresses.
- Financed through a line of credit
- Floating rates indexed to prime