Just how do brand brand new construction loans work?

Just how do brand brand new construction loans work?

Have you looked for the right house but can’t appear to think it is? Will you be contemplating building the next house? In that case, you’ll have actually to obtain a fresh construction loan pitched against a old-fashioned home loan. Whilst the procedures are comparable, funding a brand new create comes with particular requirements.

Mary Henning is a Plains Commerce Bank home loan banker—has been devoted to house financing for more than 22 years. She shares what you should know to obtain the funding you need to grow your fantasy house.

What’s the difference between a home loan and brand new construction loan?

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