Updated over 5 years ago on . Most recent reply
Best Financing for a new Construction
Good morning all,
I am trying to find out the best financing I should seek. I have about 270K from a Home Equity Line of credit on two homes I have. I want to buy six lots to build six more homes however, doing that will take about 100K of my HELOC money. If I did that I won't have much money to build the homes. I really like the fact on the HELOC's that I don't have to pay interest until I use the money. Is there any loans out there that I can borrow money with the same terms? I do own a business and my credit score is about 700.
Any advise would be greatly appreciated.