Updated over 9 years ago on . Most recent reply
Construction loan?
Hello BP,
I have a co workee who is looking to sell her land she owns a few towns away, she haa about an acre of land and a house that is "inhabitable". That being said, the house was abandoned 7 years ago after a bad hurricane. I have never seen the house nor do I know the extent of the damage. But if I'm correct you can get a 1 year construction loan and the refinance it at the end of that year for whatever you owed right? And if so, I heard that construction loans can offer 0% down. I thought it'd be cool to get my first property through a more unusual way. If anything in this article is wrong or if I have been misinformed please do tell. Any advice or anything will help!