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Additionally you will need to purchase. The IMB Essentials Home Loan allows you to save on your home loan without compromising on features. During the home construction process you make interest-only payments on your construction loan.
A construction loan allows you to borrow money to build a house from the ground up. If the home you are building is 2380 square feet you can expect to pay 392700 in construction costs assuming 165 per square foot. Home Construction Loan Calculator excel to calculate the monthly payments for your new construction project.
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