Atlanta Realtor

Keys to Mortgage Financing and Refinancing

Titles in Barron’s Business Keys series present easy-to-understand advice on prudent financial planning, saving, investing, getting loans and mortgages, buying and selling real estate, and dealing with other aspects of money and investment. Updated to account for current interest rates and new mortgage types such as interest-only loans and new adjustable rate mortgages as they apply to historically high real estate prices, this book advises on the details of financing a home purchase, dealing with banks and other lenders, and knowing how to shop for the best available deal.

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by Wayne-BTV

Question by J.R.H.: What construction financing is available if I have vacant land and an offer to buy a house on that land?
I live in an urban area and just found a vacant plot of land between two townhouses. I am interested in building a house with a cutting edge/modern design and eco friendly features. If I buy the land and hire an architect/engineer to design the structure, I have a few people interested in buying the house before it’s built. If I have an offer from them to buy the house, what are my financing options for the construction of the project?

Best answer:

Answer by TsionbenJudah
Construction perm loan would be best.

Know better? Leave your own answer in the comments!

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Posted in Vacant Land | 1 Comment »