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    scp_ok's Avatar
    scp_ok Posts: 84, Reputation: 1
    Junior Member
    		  
    #1

    Oct 12, 2007, 05:56 PM
    Construction Loan - Can the builder carry if I own the lot
    Is it possible for the builder to carry the construction loan if I own the lot? I wasn't sure if this was an option and hope someone can advise me if this is an option. Thanks!
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Oct 12, 2007, 07:16 PM
    Hello scp:

    Yes. You'll have to pledge your lot to the bank, and then take out the construction loan (get your own mortgage) after the house is completed.

    excon
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