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Recs for new home construction lenders
Posted on 10/1/26 at 5:05 pm
Posted on 10/1/26 at 5:05 pm
This isn’t happening immediately, but I thought I’d begin gathering information. My son purchased 25 acres (financed) a few years ago. Soon, he will be looking to build a home on that property.
First, do you have any recommendations on who to go through on the new construction loan? Second, do these companies offer the possibility of rolling the land loan balance into the home mortgage on completion of construction of the home? Sort of a refinance on the land to allow for one monthly payment, hopefully at a lower interest rate than he currently has on the land loan.
First, do you have any recommendations on who to go through on the new construction loan? Second, do these companies offer the possibility of rolling the land loan balance into the home mortgage on completion of construction of the home? Sort of a refinance on the land to allow for one monthly payment, hopefully at a lower interest rate than he currently has on the land loan.
Posted on 10/1/26 at 6:24 pm to High C
I’m interested in recommendations as well. Looking to build in the next year or so. I own land outright though.
Posted on 10/1/26 at 8:17 pm to High C
Truist Bank was good to us…
Posted on 10/2/26 at 10:24 am to High C
Abbeville Building and Loan. I'm pretty sure they would let him put both together that way. They almost have to incase he defaults on the property.
Posted on 10/2/26 at 11:35 am to High C
Yes, banks will allow a combined loan. They prefer it. If separate, they will want the land as collateral on the new loan. I doubt you will get a lower rate if the original loan is a few years old. Rates have been going up for several years now.
Posted on 10/2/26 at 12:12 pm to High C
GMFS
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