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Getting a construction loan without any money down

Mittwoch, März 18th, 2020

Getting a construction loan without any money down

The brief response to the concern “Can i personally use my land as equity for a construction loan” is yes.

You land outright (no mortgage or liens) you can likely use your equity in the land toward the purchase of a new home if you own. In this scenario, make use of your equity within the land as security or have a loan that is nwe home and make use of the funds being a down payment on building the new house.

There are various other facets, needless to say. The worthiness of the land, the product product sales cost of the house you intend to build, your credit score/credit history and loan programs you are able to qualify for will all be determining facets in making use of land as equity for the loan. (mehr …)