As a custom-built home builder, we can’t also let you know just how numerous consumers have actually arrived at me personally with concerns about finding a construction loan. They hear or read online that construction loans are harder to have than regular mortgages, or that the procedure is very hard.
You they’re doing that it doesn’t have to be difficult or complicated, as long as you’re working with experienced professionals who know what.
We’re luckily enough to have Dino Paone from Santander Bank to greatly help us de-mystify the procedure. Dino has been kind sufficient to answer a few of the most typical concerns we have from prospective house builders.
What’s the difference between getting a mortgage that is regular receiving a construction loan?
Acquiring a construction loan is obviously much like acquiring a mortgage that is regular. The primary distinctions are: