Advice Topics
- Buying (152)
- Selling (177)
- Renting (37)
- Market News & Trends (11)
- Finance & Legal Info (77)
- Tips & Advice (84)
- Working With an Agent (51)
- Marketing (4)
- Investing (13)
- Affordable Housing (13)
- Green Housing (2)
- Schools (1)
- Remodeling (29)
- International Real Estate (8)
- Terms & Definitions (23)
- Home Loans (10)
Top Contributors (View All)
Find a Top Real Estate Agent Near You
How does buying land and building a house financing work?
How does buying land and building a house financing work? Are there separate loans for buying land and then financing a house?
Asked By Grainger | Grand Rapids, MI | 341 views | Finance Legal Info | 1 year ago
Answer(1)
Julianne Clark / Your Lowcountry Realtor
Charter One Realty
There are speciality financing loans for this type of build. The price of the land and the construction costs are added together to become one loan. Not all banks offer land/home loans. You may need to shop around. If you are looking to build in a community that is currently actively growing with a onsite builder -- they will usually assume the lot/house cost until closing. Then your financing will be a mortgage -- just like a exhibiting home would be.
- 1 year ago
Helpful (0)
Unhelpful (0)
Are you ready to find a top agent near you?
Browse profiles of the highest ranked agents in your area and find one that meets your specific needs.
Related Questions
-
If I sell my home, will my boyfriend receive part of the sale?
I wanted some clarification before deciding to put my home on the market. My boyfriend and I purchased a home together several years ago. We split up so he signed a quitclaim deed but is obviously still on the loan. If I want to sell my home that I have been making payments on myself for the last 8 years. Does he need to sign anything and would he be entitled to any of the sale money?
- Asked by Eileen K.
- 864 views
- Finance & Legal Info
- 3 years ago
-
Can the new owner of the rental property I live in kick me out?
The rental property that I'm living in now was sold to a new owner. The new owner wants to kick me out, remodel the unit, and re-rent the unit for a higher price. Is that legal?
- Asked by Mario Z.
- Los Angeles, CA
- 746 views
- Finance & Legal Info
- 3 years ago