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re: Construction loan finance question???
Posted on 1/9/17 at 8:43 pm to BengalBlood81
Posted on 1/9/17 at 8:43 pm to BengalBlood81
The less you borrow the less interest you pay.
1
Posted on 1/9/17 at 8:57 pm to Martini
Pay cash or finance the land separate. This allows you to use the combined appraisal value as the home value. If you do them together, the total loan/construction cost will be used as the value.
The first draw from the construction loan will be to pay off the land loan.
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