One of the first steps in building a custom home is to find the right lender so that you can obtain financing. You must be careful when making this choice, as financing new construction is different than simply getting a mortgage. When building a new home, you have to get both a new home construction [...]
Obtaining a construction loan to build a house on your land or lot can be an intimidating process. This is partially due to confusing construction loan jargon. So, we are going to talk about two very important terms—loan to value (LTV) and loan to cost (LTC). Understanding the difference between LTV and LTC will help [...]
In our professional opinion, one of the first steps to building a custom home on your land is to obtain financing. We realize that applying for construction loan financing can be a stressful part of building a new home. We also know that knowledge can help ease worries. Because of this, we are here to [...]
When it comes to home building, we realize many people are cautious about sharing their top-price budget too soon. Often, they have two budgets—the lower number they share with realtors, designers, & builders and the higher number they're actually able to spend. So, an important question is, should you share your real budget with home [...]
As you’ve shared your dream of building a custom home with friends and family, you’ve no doubt heard a horror story or two about going over budget. Whether it’s $1,000 or $100,000, exceeding the specified amount the bank approved is not a good scenario. In this case, either you have to come up with the [...]
An important step on your home journey is to find the right lender. If you plan to build a new home with a custom home builder, this process is different than purchasing an existing house with a realtor. Financing New Construction As already stated, financing new construction is quite different from simply getting a mortgage. [...]
After all your hard work—finding and evaluating the property, plus negotiating the deal—it’s finally time to close on the land! Well, almost… Step 5: Close on the Land Before you close on the land, there are several important steps that must take place. They are as follows: Secure the actual land or construction loan, and [...]
At this point, you've already secured financing, found property, and evaluated the land for its buildability. Now, it’s time to negotiate price with the current land owner. After purchasing land, you will want to build your dream home, and most likely, sooner than later. So, be careful about spending too much and over-extending your finances [...]
Step one to find and buy land for your dream home is to obtain financing. It may seem obvious to state that you are going to need a way to pay for your land. Many people, however, often think that they should find the land before worrying about how to obtain financing. This, however, is [...]
You’ve dreamed about finding the perfect piece of land, building your dream home, and creating an ideal lifestyle for you and your family. You may have even driven around searching for property or scoured internet listings trying to find the right land for the right price. So, how can you find and buy land in [...]
