What is a construction loan?
Building your own house can be a wonderful and fun experience – but it can also be a long and expensive process.
However, most people cannot afford to pay for the cost of home construction up front, and getting a mortgage can be tricky.
After all, you’re asking a bank or a mortgage lender to give you money for something that doesn’t even exist yet.
A standard mortgage loan is not going to cut it – but you may be eligible for a special type of loan known as a construction loan.