Hi,
I am clueless about this but am starting to look into doing a knock down rebuild. There is sufficient equity in the property, so I am pondering investigating an equity loan versus a construction loan. If it was an equity loan, my (uneducated) understanding is that I could leave the money sitting against the loan until it is needed for payments, thereby reducing interest accruals. I would appreciate any insights that may help me including pros and cons, things to consider and things to ask about.