Top Construction Loan Lenders Transform Dream Homes Today

Types of Construction Loans

There are several types of construction loans available, each catering to different needs and circumstances:

• Construction-to-Permanent Loans: These loans transition into a permanent mortgage once construction is complete, eliminating the need for a separate loan application and closing process.
• Stand-Alone Construction Loans: These loans cover only the construction period. Once the home is built, you must secure a separate mortgage to pay off the construction loan.
• Owner-Builder Loans: Specifically for those who plan to act as their own general contractor, these loans often have stricter requirements due to the increased risk.