Title of Question:
owner/builder program
Name:Geneva City: Hemet
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| Question: Who does owner/builder loans? Where do you start to find that kind of financing? |
Post Your Answer To The Question Above:
| Answer: I think you're referring to construction loans that cover your financing while you build a home (where you already own the lot). In this case, most major banks, savings and loans, and mortgage lenders offer this type of financing. There are many ways you can finance it, some that include a second loan that becomes available as a mortgage once the house is finished. (Lenders won't give you a typical mortgage until the house is completed and it has its appraised value). Start by talking with your current bank or mortgage lender, as you may get streamlined service that way. Also shop around online as well for the best rates. I hope this helps! |
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