In simple terms, the Construction Loan is a loan provided for the construction purpose. There are no hidden charges involved in it and there is a high interest rate involved, which makes the home loan affordable and the customized repayment options help a lot. The security interest is charged on the property, which has to be financed. The borrower can apply individually or jointly for taking the home loan. The co-applicants who are applying for the home construction loan are close family members
Construction Loan
