Navigating Construction Loans with Confidence

11 months ago
11

Construction loans are short-term financing options designed for individuals or companies planning to build homes or commercial properties. These loans cover the cost of land, labor, and materials during construction. Unlike traditional mortgages, construction loans provide funds in stages as the project progresses. Borrowers typically make interest-only payments during construction, and once completed, the loan can convert into a permanent mortgage or be paid off in full.

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