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re: Custom Build Finance Questions
Posted on 5/7/24 at 7:54 pm to Rize
Posted on 5/7/24 at 7:54 pm to Rize
quote:
I remember the first time I built my forever home 3 years ago
I built my first two years ago....
I love my home and have no plans to leave. But I now see a path in other directions if the situation is right. I think most of us remain dreamers and risk takers throughout life. It does end in our 40s or 50s.
To the OP- Call the lender and ask those questions. I built in 1996 and used the land as my down payment since the loan was based on the appraisal (Which includes land value). That may not be possible in your situation.
Good luck with the house plan. Sounds like you have a vision. You will make it happen, I am sure.
1
Posted on 5/8/24 at 7:29 am to ShermanTxTiger
quote:
I built my first two years ago.... I love my home and have no plans to leave. But I now see a path in other directions if the situation is right. I think most of us remain dreamers and risk takers throughout life. It does end in our 40s or 50s. To the OP- Call the lender and ask those questions. I built in 1996 and used the land as my down payment since the loan was based on the appraisal (Which includes land value). That may not be possible in your situation. Good luck with the house plan. Sounds like you have a vision. You will make it happen, I am sure.
Yeah I built mine in 2020 and moved in December of 2020. I had enough property to build a shop and really thought I would be there for a long time with my 2.6% interest rate. At the 2,5 year mark last June my wife got a job offer we couldn’t refuse so now I’m in Spring Texas in a 1600 sqft foot rental.
Baton Rouge mortgage was $2590 a month and to get something similar over here with the rates and taxes it would be $4500 to $5500 a month.
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