The latest down-payment needed for a casing otherwise design-to-permanent (C2P) financing varies but is constantly 20% in order to 25%. Thank goodness that the worth of the newest home can be be studied for all otherwise area of the down payment.

That with an individual mortgage program for the construction and you will take-aside financing, an excellent C2P financing can save you money and time

Such as for instance, if you buy a parcel of land to own $20,100 in the bucks and want to build a house with an excellent full strengthening cost of $80,000, you prefer a property financing to possess $80,one hundred thousand. In case the bank means a 25% down payment, that means you should set out $20,100. Continua a leggere