With an institutional construction mortgage application, you are effectively applying for a construction loan and a long term take out mortgage at the same time.
For a straight construction loan where a take out mortgage is not a requirement of receiving a commitment, the focus is on the equity in the project. But with an institutional construction mortgage, the lender will determine mortgage eligibility of an individual application based on both equity investment and repayment assessment.
When applying for a self build home construction loan, here is the initial information that most lenders are going to want to see first.
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