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1. What Financing Options Are Available for Those Wishing to Have a Home Built?
   

   Would one need to get a traditional mortgage loan or a construction loan in this situation?

   Tags: Janesville, WI, traditional mortgage, construction loan, mortgage loan, financing options

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   Asked by joeyjamie from Fredericksburg, VA
   Answered 15 years ago.

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   This is a good question, but a hard one to answer in this forum. It boils down to your personal financial situation. Generally, if you are very liquid, use a temp construction facility hoping to build most of the project out of pocket and then once your home is complete, shop for fixed long term financing. However, most will use a Construction to Permanent, (“CP”) type mortgage which allows higher leverage and automatically converts to the permanent long term mortgage financing. -Logan.
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   Answered by Unknown (Novice with 27 pts.)

   Answered 15 years ago.