The construction process for many Arizona property owners has involved having a production builder build a home based on a choice of floor plans available at the new home community. When the home is completed the homeowner obtains a permanent mortgage on it and moves in. In this example a homeowner never had to worry about how the construction was financed as the production builder took care of that expense.
Actual residential construction lending is much more involved. If you are planning to build your dream custom home, chances are the home builder will not finance the construction. This is where construction lending comes into play.
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