Beginning the home building process should not be complicated if you make some key decisions. These decisions will take some serious thought on your part as they will have a dramatic effect on the end result. The key decisions that you have to make initially before commencing the building of your home include: Affordability Site Selection Design of Home … [Read more...] about Key Decisions Required Prior to Starting the Home Building Process
You found the land you want to purchase to eventually build your home on and cannot wait to purchase it. But you suddenly find that securing financing for the land is not very easy. Why did your friend who built his home from the ground up have no trouble getting a construction loan but you cannot get a land loan? There are many reasons for this situation – lenders do not like … [Read more...] about 5 Reasons it is Harder to get a Lot Loan than a Construction Loan
When you are obtaining a loan to build a home from the ground up, there are a lot of questions to be answered. How do you know what the costs will be? How much will the loan to be in the end? Who gets paid and when? These are just a few of the key questions that come up during the process. If you are working with a lender that is experienced in construction loans, you should … [Read more...] about How are Construction Loan Figures Determined?
The home construction loan is a lucrative way to get the funds needed to build a home from the ground up. In general, there are three types of homes you can use the construction loan on: customized homes; semi-customized homes; and modular homes. Each category has its own nuances, but the similarity that they all have is the qualification requirements for the construction loan. … [Read more...] about What Types of Single Family Homes can I Finance with a Home Construction Loan?