Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Real Estate
Reply to "Construction loan financing question - amount of down payment required"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=rashadmoore][quote=Anonymous]How do the payments work while its being constructed? Do they go up the more money thats dispensed to the builder?[/quote] Correct. You can think of it as a HELOC that grows money is drafted from the account to pay for expenses related to building the house. It's typically an interest only loan, that then converts to a traditional loan (Fixed, ARM, etc...) once the home is built. Also keep in mind the construction loan will be used to pay off the lot loan, and the interest rate of the construction loan can be different than your current lot loan and potential permanent loan.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics