Construction Loans - How To Get Financing For Custom Homes

[@TheRealEstateLawyer]

Great explanation David!

[@copperbuilders1296]

Thanks!

[@monicarenee7949]

During the construction phase, do you have the option to pay down the principal if you want?

[@copperbuilders1296]

Hi Monica, yes you would.

[@paulbunyan9436]

My home in Ga. was built in the 1950s, is 85% paid off and has more than doubled in value. Can I use a construction loan to pay off the existing mortgage, tear down this house and build my new home?

[@cexy63s]

Any luck in finding out if a mortgage is possible for that situation ?

[@MrJasonworkman]

Sounds sweet, thx

[@brittbandz9061]

So it is okay to finance land first and then use as leverage/down payment for construction loan ? Thanks

[@brittbandz9061]

South Carolina by the way

[@copperbuilders1296]

Hi Britt, each lender will most likely have different terms, but with our experiences with construction to perm lending, yes.

[@elianarangel9653]

David, How long do you have to own your land before you can use it as collateral?

[@copperbuilders1296]

Hi Eliana, check out our blog post for more info on construction to perm lending: copperbuilders.com/blog/how-do-construction-loans-work-for-custom-home-financing/
We'd suggest speaking to a construction to perm lender to answer all of your questions.

[@XtreamWraps]

Hey David, so I understand you are not in my state but I’d love to be able to ask some questions about the proses and maybe get some good advice from you and your team!

[@copperbuilders1296]

Hi there - I'm Kelsey, the Online Sales counselor for Copper Builders. Email me: [e-mail] and I may be able to help out!

[@taylormade4788]

I own the land and want to build in San Diego. Help?

[@copperbuilders1296]

Hi Taylor, we're located in Charlotte, NC.

[@GODCHILD1st]

I need help David

[@copperbuilders1296]

Happy to help! Feel free to reach out! Send your questions to [e-mail] and she'll get answers for you!