Self-Build Construction Loan

[glen]

OP sorry the piggy back but I have a related question. If I pay for the construction out of pocket can i then finance the completed build for 30 years? Trying to take advantage of interest rate if possible

[W E H]

OP sorry the piggy back but I have a related question. If I pay for the construction out of pocket can i then finance the completed build for 30 years? Trying to take advantage of interest rate if possible

Yes. Cash out refinance

[Austin]

Glen yes you can it will be a Home Equity loan

[solocam_aggie]

As mentioned already, a small local bank would be the way to go. I still had to list my dad as the GC, but it was an easy process.

[Tex_Cattleman]

Tried the search function but wasn't having much luck.

Can anybody recommend a self build construction loan lender that they have worked with before. Selling our home and looking to buy a lot and build. Will likely own the lot outright and would like to use it as the collateral/down payment on the loan.

I can get this done. Give me a call if you'd like to chat.

Thanks,
Trey (Your TBH Mortgage Sponsor)
512.203.5869

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[stickemhard3]

As mentioned already, a small local bank would be the way to go. I still had to list my dad as the GC, but it was an easy process.

This is the route I went as well. I tried bigger banks and they wanted a proposal to the board and that was only after a long deep discussion with the VP of the branch. I was fully prepared for this with the small bank and built an entire Execution Plan with budget, schedule, and other information. It was all for nothing lol. I only used the budget portion. Small town bank has been great to deal with as well. They all know me by name and have worked to get this complete, not just put up road blocks. I literally have all of their personal numbers in my phone in the event of a question. No games and no wasted motions. I guess I forgot how banks should operate from a cs standpoint.

[Kevin]

I can get this done. Give me a call if you'd like to chat.

Thanks,
Trey (Your TBH Mortgage Sponsor)
512.203.5869

Sent from my SAMSUNG-SM-G930A using Tapatalk

Reach out to Trey. At the very worst you will leave the conversation better educated. He was a tremendous help during our custom build and re-fi.

Kevin

[ClayW]

Tagged for later

[kingranch]

check out built green custom homes.

[Draco]

Go with a line of credit. When you get through and get final financing, you will still have the line of credit in case you decide to build or buy some thing else.