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VA New construction loan

Hello,
My husband and I are new home buyers and kind of confused about the new construction loan. I somewhat understand the escrow account but what do we pay each month while the house is being built? Do we owe interest each month? How much will that be? Will I be paying my current rent plus some of my home being built? Its all very confusing for us.
  • April 06 2014 - Denver
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Answers (1)

If the builder is financing the cost of the construction then you will not owe anything other than whatever they require for earnest money.  Once the home is built you can finance it just like any other home when the C/O is ready. If you have any other questions or would like to go over your options feel free to send me a message and we can go over everything.
  • April 06 2014
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