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Construction Loans


Building your Dream house. Many People who buy Land often have a hard time financing the purchase of a piece of property with no existing structure on it . Often time Banks and lending institutions don’t want to loan money for Land only without an exiting house or on the actual property.Building a new house on land requires financing for construction. How do construction loans work ? These loans are not offered by every lending institution. Many large mortgage companies like fannie mae lend for existing houses already.

.Many banks or credit unions will finance the land only purchase as they understood the local market and said it would require a down payment of 30-40%

Finding a bank or financing for a Construction only loan can also be challenging. Meaning If you own the Land already but with no house on it, which banks willlend you money to put a house up?


Construction Loan Information
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Mortgage Construction Loans
New Construction Loans

1. What Are Construction Loans? ยป Social Commerce with a Cause
A construction loan is the type of loan that one gets to finance the construction of a new developing or buildings. There are two standard sorts of construction loans: house construction and commercial construction. ...

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3. Construction loans FAQs - Bankrate
Understanding how construction loans work can save you hundreds of dollars. Bankrate experts Dr. Don Taylor and George Saenz answer some of the more frequently asked ... ...