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What kind of loan do I need to build a custom home

by ktxwilkins from Conroe, Texas. Apr 16th 2013 Reply


Brad Cahoone (info@globalhomefinance.com)
#89 ranked lender in Texas - 1,042 contributions

Hello and good evening. It sounds like you are asking for a construction loan, but there are many variables to that and depending on the builder you may not have to do a construction loan. There are not many one time close products out there now so you may have to do a construction loan and then refinance to permanent financing when it is all finished. You need to speak with a licensed mortgage loan officer and the builder to figure out what will work best for you and if the builder can do the interim financing and you just do a purchase note when the construction is complete.Brad Cahoone - 972-724-3222 x.227 - bcahoone@globalhomefinance.com- http://globalhomefinance.com

Apr 16th 2013
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Ed Craine (ecraine)
#355 ranked lender in California - 23 contributions

Most likely a construction loan. Find a good local mortgage originator who is experienced in construction loans. You can ask local architects, builders, and realtors if they can refer someone qualified. You can also do an internet search.

Apr 17th 2013
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