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Updated about 9 years ago,
mortgage for land to build a house.
hello. i have question that i cant get a solid answer on. I was thinking about buying a land to build a house on and sell it. I know people that can do the work and i will be playing the general contractor. my question is do i have to buy the land for cash and then get a construction loan? or can i get a loan for land and construction? im located in central nj. thank you for any answers.
projected investment:
land approx. 50k
construction approx 100k