Post by: pianoman9701 on March 21, 2023, 12:12:32 PM
Post by: turkeyfeather on March 21, 2023, 02:48:52 PM
Post by: pianoman9701 on March 23, 2023, 07:38:58 AM
Post by: turkeyfeather on March 23, 2023, 07:41:44 AM
Sorry for the delay. I couldn't find a lender for that, TF. I called a dozen of them yesterday. Once the home is done and you have a certificate of occupancy, I'd likely be able to do a cash-out refi. It would need all permits and an appraisal as a new build. Thanks for asking. :tup:Thanks for checking.....we have found that Farm Credit Services will do it but would've rather done business with a fellow member.
Post by: pianoman9701 on March 23, 2023, 07:42:59 AM
Sorry for the delay. I couldn't find a lender for that, TF. I called a dozen of them yesterday. Once the home is done and you have a certificate of occupancy, I'd likely be able to do a cash-out refi. It would need all permits and an appraisal as a new build. Thanks for asking. :tup:Thanks for checking.....we have found that Farm Credit Services will do it but would've rather done business with a fellow member.
You're awesome for asking. I appreciate that. One more caviat: no log homes.
Post by: trophyhunt on March 23, 2023, 08:05:42 AM
Post by: Boss .300 winmag on March 23, 2023, 08:15:45 AM
Sorry for the delay. I couldn't find a lender for that, TF. I called a dozen of them yesterday. Once the home is done and you have a certificate of occupancy, I'd likely be able to do a cash-out refi. It would need all permits and an appraisal as a new build. Thanks for asking. :tup:Thanks for checking.....we have found that Farm Credit Services will do it but would've rather done business with a fellow member.
You're awesome for asking. I appreciate that. One more caviat: no log homes.
Why no log homes?
Post by: pianoman9701 on March 23, 2023, 08:21:06 AM
Sorry for the delay. I couldn't find a lender for that, TF. I called a dozen of them yesterday. Once the home is done and you have a certificate of occupancy, I'd likely be able to do a cash-out refi. It would need all permits and an appraisal as a new build. Thanks for asking. :tup:Thanks for checking.....we have found that Farm Credit Services will do it but would've rather done business with a fellow member.
You're awesome for asking. I appreciate that. One more caviat: no log homes.
Why no log homes?
You know, maybe for a cash-out refi, I might find a lender. None of my lenders will do a construction loan on a log cabin. Those are normally financed by the log home companies or credit unions.
Post by: Sakko300wsm on March 23, 2023, 04:54:01 PM
Thanks
Rob
Post by: Iveexcaped3 on March 23, 2023, 06:13:41 PM
Post by: pianoman9701 on March 24, 2023, 05:53:27 AM
Will they let a contractor build their own home. Last 3 lenders told me no; I would need to use a 3rd party.Correct, there can be no family relation between the buyer and the builder.
Post by: pianoman9701 on March 24, 2023, 05:57:12 AM
Just submitted building plans for my property in ferry county on the Kettle River . I own the property and will be looking into a bit of a construction loan. Any info would be great! If you do Ea Wa?
Thanks
Rob
I'm licensed all over WA and OR. Are you planning to do the build yourself or do you have a contractor who's not related to you and has done at least three prior builds?
Post by: Skillet on March 24, 2023, 08:03:08 AM
Will they let a contractor build their own home. Last 3 lenders told me no; I would need to use a 3rd party.Correct, there can be no family relation between the buyer and the builder.
Not to hijack - but what are the lenders worried about if there is a relationship between buyer and builder?
Post by: Stein on March 24, 2023, 08:18:50 AM
Post by: pianoman9701 on March 24, 2023, 08:29:09 AM
:yeah:Will they let a contractor build their own home. Last 3 lenders told me no; I would need to use a 3rd party.Correct, there can be no family relation between the buyer and the builder.
Not to hijack - but what are the lenders worried about if there is a relationship between buyer and builder?