A construction loan helps you to borrow money in order to build your own dream home or even an investment property the way you imagine it to be, rather than a pre-built home that does not fit your vision. This type of loan allows you to build your project from the ground up, from the architecture & designing of the home, selecting prime land, and the final product the construction of the home itself.
How does construction loan works?
When you take out a construction loan you borrow money to pay for the cost of building your home, and once the house is complete and you move in or sell it for profit is all up to you, the loan itself eventually can be converted to a regular mortgage.
