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Updated 4 months ago, 09/03/2024
Construction loan for primary home
I am looking to get some type of construction to perm loan to build a primary house for myself
However, I’d like to get a loan that allows as little % down as possible and allows me to be the builder. I am not a licensed GC but I have experience building spec homes that I could show a bank
Fine paying a higher interest rate on the construction period of the loan, but would like to be more in line with traditional mortgages rates on the perm portion (although fine paying slightly higher if I avoid closing costs for a second loan)
Do y’all have any recommendations on specific types of loans for this or specific banks I should talk to?
Thanks!