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re: Terms for a land only loan?

Posted on 7/21/15 at 10:43 am to
Posted by blades8088
Covington
Member since Nov 2008
4202 posts
Posted on 7/21/15 at 10:43 am to
What about construction loans? Will banks still let the homeowner contract it out? Ive heard conflicting stories if a licensed contractor was a must or not.
Posted by Ziggy
Member since Oct 2007
21557 posts
Posted on 7/21/15 at 11:38 am to
quote:

What about construction loans? Will banks still let the homeowner contract it out? Ive heard conflicting stories if a licensed contractor was a must or not.

In my limited experience, it all depends on the bank / lending institution. Some will and some won't.
Posted by yellowfin
Coastal Bar
Member since May 2006
97743 posts
Posted on 7/21/15 at 1:31 pm to
I've heard both ways too

Also some neighborhoods won't allow you to self contract
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