Finance

Renovation Loans

If you’re building a new home or planning major renovations to your existing home, a construction loan is generally the most appropriate funding option.

The difference between a construction loan and other types of loans is that a construction loan is drawn down in stages and not paid as a lump sum.

The drawdowns enable the builder of a home to finance the various stages of the construction process from the acquisition of land to the various stages of building.

 

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