How does a mortgage if you build a house?

In: Mortgage Loan

4 Oct 2010

How different, if you build a mortgage a house vs buying a home? What are the advantages and disadvantages of the building? Is it cheaper?

They both look exactly the same. It is at the end with a 15 or 30 year loan and the house yours.

Pro: You get exactly what you want. Because you built it for himself.
It is brand new. It’s fun.

Con: The new ones are more expensive. The materials are now more expensive. You could a bigger house old.
You must wait 6 months to be built for them. You have no idea if the interest rate of 3% and 9% in 6 months. You do not know until that day comes.



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