Understanding Construction Loans From A Trusted Construction Loan Broker

A new construction endeavor will require a construction loan unless you can finance the project in cash. This funding will assist in covering the labor and materials as well as allow you to purchase the land. This process is more complex than borrowing traditionally in the way that the lender is offering a short term loan for a structure that isn’t in existence yet. It is a line of credit comparable to that of a credit card with a broker in control of when the money can be taken out and given to the contractor.

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