Financing in Lake Worth>Question Details

Mee08, Home Owner in Land O' Lakes, FL

Is there any home owner construction loans available?

Asked by Mee08, Land O' Lakes, FL Sun Mar 10, 2013

I am buying a lot that I plan on building a new home in 2 years. The property to build is in palm beach, florida. I currently own a home in tampa, fl where I owe 175k and is worth the same. I either plan on selling or renting out my current home. The cost of building is around 300k and the lot will be bought outright at 75k. I am trying to determine my options for the building the home on my own using subcontractors to save as much money as possible. Everything I have seen (which is not many) requires a GC. Any advice would be greatly appreciated. I am trying to look for a competitive rate which I know will be hard since my request is not common.

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Your best option is a local bank that knows the real estate market: Palm Beach Community Bank offers construction loans to homeowners in Palm Beach County, and Broward and Martin. (561) 681-7217
0 votes Thank Flag Link Wed Mar 27, 2013
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