Traditional Construction Loan

Traditional construction or a stick built home is a home that uses a standard foundation and frame made of wood or steel, sometimes referred to as building ground up. This is what most people think of when building a home.

 

These types of loans can be more expensive than traditional mortgages. As you decide to build your future home it’s important to understand your options which may include shopping around to compare rates before you decide on a lender.  You should also shop around to compare rates of prospective home builders. If you're an active-duty service member or veteran, make sure you check out the VA construction loan as you may qualify.