Wednesday 9 May 2012
The Ins and Outs of Getting a Home Construction Loan
A home construction loan can be used for new home construction or for remodeling an existing home. They can be obtained through banks, credit unions and mortgage companies, but not every lender offers them. According to usamortgagerates.com, rates are higher for a construction loan compared to a conventional mortgage because the asset- the new home - is not yet built and is therefore a higher risk.
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