You draw on it only if you need it. The biggest advantage of a single loan program is that it is only one loan. You have to qualify only once and there is only one set of closing documents and loan costs. Marcussen says that while a good lender can reduce the financial aggravation of building a house, you have to get involved in the building process. It would be important to make sure they watched everything, all the stages of construction.
Inspectors have to sign off on different stages of construction.
When the consumer goes to the job site, they can look over the inspection reports. They can also talk to the building inspectors. You can build the home of your dreams. However, you should make sure you're wide awake while you do it. Inc. All rights reserved.