: Determine your budget before paying for architectural plans.
: Only available if the borrower is also a licensed professional builder who will act as the general contractor. Eligibility & Requirements construction financing
: These loans typically last 12 to 18 months , covering only the building phase. : Determine your budget before paying for architectural
: Once closed, construction begins and the lender starts the draw-and-inspection cycle. construction financing
: Most lenders look for a DTI ratio below 45% .
: Lenders will vet your contractor's experience and insurance.