Updated over 5 years ago on . Most recent reply
New Construction Loan vs. Home Equity Loan Central Texas
Hello to all,
My parents are looking to build a new home (2500 sq. ft.) in Central Texas on a property of 2.5 acres. I had previously suggested a home equity loan on their current home, valued at 216K (according to 2019 Tax-assessed value), to start the construction proccess. But now it has been brought to my attention that their is new construction loans available.
What are recommendations?
Thank you in advance!