Residential Construction Loans
How to Finance Construction of Your New House.
The construction loan you choose to fund the construction of your new house is the most important part of building your house. You should be aware that a construction loan contains many variables that can cost you time and money or cause unwanted delays.
Construction Loan Interest
Shopping for a Construction Loan
Learn how to shop for a construction loan and compare loan offers from several banks. Follow your bank loan each step of the way from including the construction contract, the loan application, the appraisal, the closing, and the draw process.
Use a loan calculator to compute your monthly payment to see how much you can afford. Understand the terms for contractor, sub contractor and the risks of construction loan liens. Educate yourself about how construction loans work before venturing into any construction project.
Review the construction loan documents that will be using during the course of the construction. You will want to understand the purpose of each document in helping to keep the construction process on track. Construction loans can present considerable risk to the borrower and you want to understand how to protect yourself.
Follow our construction news page to keep up to date on construction news and tips on construction loans.
Residential construction loans are difficult to obtain and you will want to apply to a lender that can get your deal done. More...
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