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re: Building A House - Where To Start?
Posted on 7/16/13 at 1:55 pm to chuckitdeep
Posted on 7/16/13 at 1:55 pm to chuckitdeep
quote:
Find a bank that will do construction loan. Will probably need at least 20% down.
This is a requirement? 20% of lot+new home in order to begin? How can you be sure the exact # it will take to complete?
Posted on 7/16/13 at 3:48 pm to CQQ
first i work for a bank and do construciton loans often, if you can by the lot first and pay it off and use that as your down payment for your house, if you buy both at the same time you will need 20% of the lot and house. We dont hand you a check we work with your buildder and he gets draws. also my bank(whitney) does 1 time closes also(this makes your life easier). contact a bank that does these types of loans sit down with someone and let them help you
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