3 Reasons You'll End Up Paying More for a Construction Loan

Dana George, The Motley Fool
·4 min read
3 Reasons You'll End Up Paying More for a Construction Loan

If you've fantasized about building a home of your own, you may be surprised to learn that construction loans are more expensive than residential loans. How to save: Rather than take out a short-term construction loan followed by a mortgage, take out a single construction-to-permanent mortgage (also known as a "single-close").