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Construction Loan
Posted on 10/25/25 at 9:43 am
Posted on 10/25/25 at 9:43 am
Does a construction loan require you to use the banks funds thru the whole process then close at the end?
I have 75% of the funds to build our house. I just need a loan for the remainder 25% of cost. I would rather use my funds as much as possible to save on interest.
Is a construction loan the best process or is there a better loan option to accomplish this?
I have 75% of the funds to build our house. I just need a loan for the remainder 25% of cost. I would rather use my funds as much as possible to save on interest.
Is a construction loan the best process or is there a better loan option to accomplish this?
This post was edited on 10/25/25 at 9:44 am
3
Posted on 10/26/25 at 8:27 am to dlambe5
Typically equity goes in first, then debt.
Posted on 10/26/25 at 9:20 am to dlambe5
This should not be a problem. I don't see why a bank would have any issue with it as long as they are the first lien holder on the property.
Posted on 10/26/25 at 9:57 am to KWL85
Equity first then debt. You should be in the clear. Any bank should want to do this deal. Super low risk.
Posted on 10/27/25 at 8:44 am to dlambe5
Typically, the bank won't release funds until you request them. You won't owe them anything/accrue interest until you request funds to pay the contractor.
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