Lot and construction loans are our specialties!


green-property-jangan-korbankan-kualitas-rumah-AVsYlfGRG6“How much money do I need as a down payment to buy a lot or land so I can build a new home?” This is a question that is frequently asked of me. There are many occasions when a lot or piece of land comes available, usually when you least expect it, and you need to act quickly. We offer a program for that!

Lot loans are available with 20% down and allow interest only payments on the loan for up to 18 months, with longer terms available if needed. When qualifying for a lot loan, I will need information about the scope of the total project. This allows us to plan for the next phase – construction of your new home. I want to make sure I understand the full project, from lot purchase through construction of your home, so I can provide the best overall financing package for your situation. Buying the lot is just the first step, and I can help provide the road map for the entire project!

We work closely with a title company that is well-versed in lot and construction financing. The title company is a vital part of the process, handling all aspects of the lot purchase and later on, construction draws to build your new home. They also provide a great fee structure which saves you money as you move through the process – from lot financing, to construction financing, and then your end loan that pulls everything together into the final mortgage.

Questions are always welcome – let my team help you put all the puzzle pieces together. Lot and construction financing are my specialties!

– Randy Cullen, NMLS 326128

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