Question 1

How does construction loan financing work?

Accepted Answer

Construction loans are short-term loans that convert to permanent mortgages once construction is complete. You only pay interest on the amount drawn during construction, then convert to a traditional mortgage.

Question 2

What documentation is required for a construction loan?

Accepted Answer

You'll need detailed construction plans, contractor information, cost estimates, timeline, and proof of income. We'll guide you through the complete documentation process.

Question 3

Can I act as my own general contractor?

Accepted Answer

Yes, owner-builder loans are available for qualified borrowers. You'll need to demonstrate construction experience and meet additional requirements.

Construction Loan FAQs

How does construction loan financing work?

What documentation is required for a construction loan?

Can I act as my own general contractor?