This is how construction loans work 🔨

8.3K viewsalmost 5 years ago0m 34sScore: 75

Sean Pan

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Summary

Construction loans work by reimbursing in phases, known as draws. Lenders will do a feasibility study on the scope of work to see if the rehab costs make sense and the inspector will verify that you did the work you said you were going to do. Construction loans let you leverage more of your money for bigger and better projects.