Home Equity Line of Credit - HELOC

The combination of construction loans and home equity line of credit (HELOC) will very often make a construction project possible in one the following scenarios. If you own a property now, and are buying a lot to build a home from ground up or buying an existing property with the intension of doing a major remodel you can use a home equity line of credit to on your home to get started.

Since most construction loans include an interest reserve account, the payments on the HELOC do not get in the way of qualifying for the new construction loan.

Read More >