building a house

Any general questions you might have in regards to loans and finance.
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umbrella
Posts: 38
Joined: Fri Jun 26, 2009 11:02 am

building a house

Post by umbrella »

can a bank lend you money to help you build a house?
please advise! :|

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Otto Dargan
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Re: building a house

Post by Otto Dargan »

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.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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