Construction Loans

Seeking to develop some land we own (262 acres) and build 2-3 modulars at a time for resell.

Does anyone know where to get the best construction loans and how these work?

Any information as to how construction loans work is greatly appreciated. We have been told (but do not know for sure) that construction loans, as long as you qualify, do not have to be paid until construction is complete and that lenders are more apt to lend when you utilize modulars since they are completed much quicker than stick-built.

Donna –

You can do this, however, modulars can be a little more difficult because the construction lender will not give you money for the up-front deposit that some modular lenders want.