Construction Loans

Construction loan qualifications and restrictions vary from lender to lender. Not all Lenders offer construction loans. But, if you are willing to get involved and play a bigger role in the process of building a custom home, then a construction loan might be for you. The construction process and subsequently the loan process is not quick nor easy. There will be construction requirements and milestones that must be achieved before the loan moves to the next step. There are different kinds of construction loans and cost for each vary. Keep in mind the lender has more to risk in the construction loan process and has more manpower wrapped into each loan which will be reflected in the loan costs and interest rate.