How can we find out how much we can borrow for a construction loan?

My husband & I bought some land & now want to build a house on it. How can we find out how much we can get for a construction loan? The land is worth 19,000 can that go towards the cost like a down payment? Any information on this kind of thing would be helpful.

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One Response to 'How can we find out how much we can borrow for a construction loan?'

1. Janet P - June 29th, 2008 at 1:43 pm

   No, you land does not go towards the cost of the construction loan,

   You have to have an amount in mind, and show them that it will cost that much. Then you need 25% of that in cash to give them, that is your share of construction.

   It might take you close to year to go through all of the hoops.

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