Vocabulary: Construction Loan

Construction Loan.png
Construction Loan.png

Vocabulary: Construction Loan

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🏑 Real Estate Vocabulary: Construction Loan πŸ—οΈ

A Construction Loan is a short-term loan designed to finance the building of a new home. Unlike a traditional mortgage, this loan covers construction costs and is typically converted into a permanent mortgage once the home is complete. πŸ πŸ’°

πŸ”¨ Why choose a Construction Loan?
βœ” Covers land, materials, and labor costs
βœ” Funds are disbursed in stages as construction progresses
βœ” Converts into a standard mortgage after completion

Thinking about building your dream home? Let's talk financing options! πŸ“©

#RealEstate #ConstructionLoan #BuildingAHome #NewConstruction #BHGRE #WostalRealty #TheNoffertGroup

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