What type of loan (construction/personal/etc.)?
*I posted this in the "Starting Out" section, but I though I would try here as well.*
I'm a bit confused as to what type of loan I should be looking for.
The project: I'm purchasing a small plot of land, building a home on it (I already have a contractor lined up and he's given me a bid), and then selling the home (for a profit).
Should I be looking for a construction loan? A business loan? A standard mortgage loan? A personal loan?
What are the advantages/disadvantages of each of these different types of loans?
Thank you for any replies.