What type loan for building our new house?
We are planning to build a new house as soon as we get our financing arranged. We will pay 50% to 60% of the total cost from our own funds. The remainder will be paid when we sell our current house. Our house has no mortgage. We do not plan to sell the current house until the new house is built. Should we get a home equity loan or another type loan? It seems there would be less hassle if we just borrowed against our present house, but would that end up costing us more money in the long run?