Is there a special loan for building a home???
My father owns 10 acres in Lucerne Valley we wanted to know if there was a way to use the equity from the land to build a home there? Also, I have been having such a hard time trying to find a house would it be easier to qualify for this kind of loan rather than a loan to buy a house? Thank you all for your answers and any suggestions welcome please Thanks again
Answers (1)
FIRST ANSWER
You may be able to do a construction loan. You draw money from the loan during the course of construction and then start paying it back when the construction is completed. Check with a lender to be sure.
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