construction loan
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Anonymous
| What bank did you use? |
Anonymous
| Sandy spring does a quasi 10% down |
Anonymous
| BB&T, construction-to-permanent financing. |
Anonymous
| Congressional Bank |
Anonymous
| Thanks! And how were the loans structured? We're paying a mortgage on our current home and trying to figure how to manage both loans when the time comes..... |
Anonymous
| There are typically no payments during construction. |
Anonymous
| If you're tearing down, can you take out a construction loan? |
Anonymous
| We paid interest only during construction. |
Anonymous
| No principal - but interest payments. You need to have some sort of "down payment" on the loan. there are discussions on this in real estate blog. |