Home Loan
A construction loan is a short-term mortgage that enables a borrower to finance the cost of building a new home or significant renovations including for a tear-down or fixer upper, purchase the property build or remodel the property.
A purchase money loan is evidenced by the trust deed or mortgage a homebuyer signs at the time the homebuyer purchases the home. A borrower can obtain a purchase money loan from a bank, a savings and loan, a credit union or a private source of funds, including from the seller who is selling the home.
"If you would know the value of money try to borrow some."
