Building New? Make Sure Your Preapproval is Ready for Your Permanent Mortgage

For those building a brand new home from the ground up, a construction loan is needed. A construction loan will include funds for both materials and labor but can also include funds for the lot of the borrowers don’t yet own the lot where the property will be located. When preparing to apply for a construction loan, you’ll need to have your plans and specifications ready. These plans will list the materials and provide an approximate amount of the cost of construction.  (Click here to read.)

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