can a bank lend you money to help you build a house?
please advise!
building a house
- Otto Dargan
- Mortgage Specialist
- Posts: 7730
- Joined: Sat Sep 06, 2008 5:55 pm
- Location: Sydney, Australia
- Contact:
Re: building a house
Yes banks do lend money to build a house, this is known as a construction loan. The bank will advance money for you to buy the land and will then withhold the remaining loan funds and advance them directly to your builder as they complete each stage of the building.