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Understanding Construction Loans In Connecticut

Most people think that getting anything other than a standardized mortgage loan is almost impossible.  There are other options out there and they aren\'t that hard to get, you just have to know where to look and what the best options are. 

One of the loans that people think are impossible to get are new construction loans.  It\'s not impossible to get one, it might be harder, but only because it requires a little bit more involvement than most lenders like.  Here is some good information to help you understand what a new construction loan is and maybe how you can get one for yourself.

The very first thing to understand about these types of loans is that it isn\'t straight forward or even standardized like a 30 year fixed rate mortgage it.  These loans are often referred to as \"story loans\"" and simply for the fact that the lender needs to know all the planned details of the construction even before you break ground on the new house. 

Once all the construction details are hammered out and approved by the lender