Question 1

Will changing the plans, the budget or the building contract during construction affect my construction loan?

dev · Accepted Answer

Unfortunately, changes to plans or contracts can require your lender to re-approve your loan, so it's best to avoid these if you can. It’s a good idea to allow a building buffer when looking at how much to borrow so you can cover unexpected costs without having to refinance.

Question 2

Will changing the plans, the budget or the building contract during construction affect my construction loan?

dev · Accepted Answer

Unfortunately, changes to plans or contracts can require your lender to re-approve your loan, so it's best to avoid these if you can. It’s a good idea to allow a building buffer when looking at how much to borrow so you can cover unexpected costs without having to refinance.

Question 3

Will changing the plans, the budget or the building contract during construction affect my construction loan?

dev · Accepted Answer

Unfortunately, changes to plans or contracts can require your lender to re-approve your loan, so it's best to avoid these if you can. It’s a good idea to allow a building buffer when looking at how much to borrow so you can cover unexpected costs without having to refinance.