Construction Loans: What are they & how to they work?
If you’re planning to build your dream home from the ground up, or complete structural renovations to your existing home, you may need to take out a construction loan from a lender. This loan differs from a regular mortgage, as it releases the loan funds in stages rather than a lump sum all at once. While building your own home sounds exciting, it can become a bit tricky financially, and the application is more involved than other loans. We’ve broken down how a construction loan works, so you can begin to plan the home of your dreams. What is a … Read more