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Danwdude, Home Owner in Lake To Gulf Estates,...

brand new house construction loan

Asked by Danwdude, Lake To Gulf Estates, Port Richey, FL Sun Dec 9, 2012


we own a lot and wondering what would be our options for financing the house which we want to build with the help of contractors. The city has a lien on the land for sewer, all homes in the area had to pitch in when they added sewer lines in the area. What are our options for financing?, does banks do construction loans anymore? the sewer lien will be an issue for financing?

thank you all for your help.

Help the community by answering this question:


Good day, Vajjas1- Most lenders you talk to will broker their construction loans to WaFed, so your program parameters will be the same on that side. One thing I noticed is that no one mentioned an FHA construction loan to can build what you like with only 3.5% down. I can do both, and I'm happy to answer any questions you may still have - Mary Pk 206.715.7708 -
0 votes Thank Flag Link Wed Apr 3, 2013
Washington Federal is a local, community direct lender/bank in Washington. Custom construction loans are a niche for us. We underwrite, service and keep all our loans. In fact, our local branches do the inspections. Give me a call and we can go over the details to see if we are a fit.

Contact me at:
Sam Orallo
Washington Federal
NMLSR # 636343
2012 Seattle Magazine 5-Star Lender
0 votes Thank Flag Link Sat Mar 30, 2013
Hello Sam,

Thank you for your response. I was hoping someone from WAFED will respond. Would you be able to tell me, when in the process can we start approaching the bank for the loan?

Is it before permits got approved by city or after permit approval?

We are in the process of getting the house designed by an architect. Looking forward to hear from you and hopefully get us through the process.

Flag Sun Mar 31, 2013

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,
Jirius Isaac
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
Web Reference:
0 votes Thank Flag Link Mon Dec 10, 2012
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.
0 votes Thank Flag Link Sun Dec 9, 2012
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