The principal difference between a mortgage of construction of individual and a mortgage of purchase of house is that with an individual that money of mortgage of construction is released by stages while construction progresses rather than like only quantity.

Some lenders will lend to you money with the ground of purchase, in general to 75% of the purchase price of purchase or with the value, that which is lowest.

After this, the money for construction is released in a series of stages. Those can be fixed or flexible according to the lender but usually there is of five.

During construction you can in general borrow 75% of the cost of the value of the house while the project progresses, according to the selected lender.

There are two methods by which the money can be released during construction - at the end of each stage or the beginning of each stage. (known like the arrears in scene payments and prepayments of stage put respectively.) In the arrears put in scene the method of payment, the money for this stage is released after the stage was achieved and a valuer visited the site. This can make have some manufacturers of individual of the difficulties of cash flow of financing.