Construction Loans
Construction loans are most common when requiring finances to build a new home, although one seldom needs to own land in order to qualify.It is quite possible, depending on the lender, to finance the building,material, construction and land cost all at the same time.
Some handy tips on construction loans :
1 They are usually short term in length.
2 Good credit and regular income needed.
3 Name of contractor,plans and information on construction cost.
4 Title policy and legal survey of land.
Construction loans can be a very good investment for the long term.
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