Step5: About Home Construction Financing
about home building step 5
Step 5 is about getting financing
once you finalize the contract negotiations with a builder.
First, you will need a home construction line (with funds deposited into the account by the lender) to pay for materials and sub-contractor help through the construction phase. Second, you will need to arrange for a residential mortgage to pay off the construction line once the project has been completed. |
when you are ready to make your lending decision, use these helpful tools: |
download and print our 1-page home building map. It summarizes the home construction step-by-step process:
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