Financing is the first step towards building your custom house. 

Before financing, you should get the “budget number.”

The budget Number is a combination of the amount for: 

• The cost of “construction of the building.”

• In some cases, it can even cover the cost “of the land.”

Next, the module talks about: 

• Where to get loans, 
• What construction loans are, and
• What options to choose. 

Mortgage lenders are better options for the family because they are flexible.

The module goes over different options as per every family’s applicability.

Mortgage/loans for building: 

• A construction loan for homes is for 12 months. 

• For the first 12 months, it is interest-only payments. So that you can focus on building your house. 

• After 12 months, it is converted into a mortgage loan..

Sheds a light on “Builder’s Risk Policy and Insurance.”

The module specifies: 

• Talks about Builder’s Risk Policy and Insurance’s relevance. 

• It expires within 12 months when your loan gets converted.