Construction Loans May Be Your Best Option in 2014
In the real estate boom years of 2000 – 2007, many homeowners and investors were pouring money into existing homes and residential investment properties. In some cases this might have been a refresh costing $25,000 to $100,000. In other cases owners were adding rooms, 2nd floors, and even creating mini-mansions. There were plenty of lenders happy to provide 2nd trust deeds, total refinance packages, or home equity loans (HELOCS) for these types ofconstruction projects.