It is possible to rating a home loan to the domestic so you can pay the development mortgage
These framework loan keeps a comparable build once the an interest-merely loan which have a balloon percentage during the readiness. They means that the debtor pays interest-only costs due to the fact design is within improvements and will spend the remaining prominent in one payment at the end of the fresh structure. This can be a risky financing because it helps to make the debtor in charge to possess an enormous that-big date payment.