Contact me at:
NMLSR # 636343
2012 Seattle Magazine 5-Star Lender
I can help you with your project as well. Construction loans are available these days to build homes. This has been a recent change since banks stopped providing construction loans when the market crashed. I am a real estate broker & a loan officer. I also know someone who helps manage new construction if you need something like that. Depending on how you want to do thing will decide the best route to take. The best thing to do is to give me a call & we can have a conversation specifically about what you want to do & I can share options with you.I look forward to hearing from you.
Good luck to you in any case,
Isaac Real Estate Team
Champions Real Estate Services
TriStar Finance #MLO-107799
Office: 425-483-6849 Cell: 206-841-9976
Winner of Seattle Magazines 5 Star
Real Estate Agent Best in Client Satisfaction Award
Mortgage Loan Originator Best in Client Satisfaction
Construction loans are available, but the exact structure will depend on several factors. Last I knew there were loans that were strictly for construction and you would need to arrange a permanent mortgage after everything was completed. The other type is one loan construction to permanent. The rate during the construction period floats with the market and can be set for the final mortgage when the project is near completion.
You will need to speak with a mortgage professional to fill in many details. You indicate you want to build the home yourself with the assistance of some contractors, if you have a construction background this may be available but banks will be very wary of first time builders, there is so much to learn.
I've worked with a company that consults with owner/builders and provides much of the structure and guidance a project like this needs. If this would be useful, contact me and I'll see if I can make a connection. I also have lenders who may be able to help.