THE MOST COMMON QUESTIONS EVERYONE ASKS ABOUT FINANCING THEIR CUSTOM HOME

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THE MOST COMMON QUESTIONS EVERYONE ASKS ABOUT FINANCING THEIR CUSTOM HOME IN 2020
Financing your home is something most people don’t think about when planning on building a Custom home. However, before you can break ground on your new home you must finance the construction of your home.
We have picked the most common question clients ask when wanting to finance their custom home. We are joined by Laith Daik, the president of Texas Loan Star to help answer these questions for us. We hope that this video will help shed a light on the uncommon subject of Financing a Custom Home.
Thanks for watching!
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A LITTLE BIT ABOUT US:
For home buyers who love detailed architecture, we are an award-winning custom home builder with a reputation for meticulous attention-to-detail, fine carpentry, and distinctive quality. Our focus on luxury custom homes can be seen in some of Houston's finest neighborhoods, including Memorial, Spring Valley, Hilshire Village, Garden Oaks, and the Heights.
TEXAS LOAN STAR
WEBSITE
texasloanstar.com/
FACEBOOK
/ texasloanstar
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#customhomefinancing #custombuilder #aspirefinehomes #homefinancing #homebuilder #luxuryhome #houstonbulider #homebuidling

[@kristenpearce8740]

This was so helpful!! Thank You!

[@TheOreamnos55]

Thanks for addressing these topics. It's extremely difficult to find clear info on them.

[@asainjnco]

Extremely helpful on the recast mortgage portion. Thanks for that information!

[@jenniferdorsey5614]

Wow! Extremely helpful! Thank you!

[@AspireFineHomesHouston]

Thank you for watching! Glad you found our video helpful.

[@stephaniefriske4399]

I love and need your videos, professional, direct and actually helpful. Keep them coming! 🤗

[@AspireFineHomesHouston]

Thank you! Will do!

[@wilfriedessonkong9284]

Thank you for this helpful video. But what about using the equity of the existing house instead of a lot?

[@AspireFineHomesHouston]

that is definitely an option.

[@SLee-qb3xw]

Thanks for great contents. Just subscribed. One question. When you are buying a house that you are going to do a major reno, can you get a construction loan? There may not be enough time to find a builder and come up with a detailed plan. Also, when does interest rate get determined for the amortization loan?

[@MsStudyroom]

So, how do I go about getting started to get a custom build house finance if I am a first time buyer and I only have 40 grand?

[@steelddd]

Is it possible to get a construction loan to tear down and rebuild a house I already have a mortgage on? Appreciate it.

[@AspireFineHomesHouston]

Yes, but the loan will have to include any additional amount needed to pay off the existing home mortgage.

[@jeffreyhernandez3720]

Do you do loan out of Texas state ?

[@mustbeheard9834]

His service is called a " Bridge Loan". I'm interested in Knock's loan program. Where they will buy your home for it's appraised value, if your home fails to sell. I will use them instead as I live in California. If I lived in Texas I might have tried working with this gentleman.

[@AspireFineHomesHouston]

I've heard of similar programs. Good for when the market is softer....

[@joete3324]

what about if you have enough $$$$ to pay all of it? to save some $$$ on interest?

[@DrWarBear]

Then you skip the bank and you pay the builder directly. Few things to keep in mind:
1) cash payments means you need to ensure you have invoices and receipts proving you paid the man
2) you’ll want to be very clear about payment schedule and what inspections are required to be paid - do NOT give a builder 100% money up front
3) you’ll need to make sure the general contractor (if you’re using one), or the builder is using your money to pay their subcontractors. In some states, you the owner can be sued if the GC takes the money and doesn’t pay his subs. Or the subs stop showing up to finish the job. Many times the bank will add something in the contract to make sure this doesn’t happen, so if you’re going cash you may want to do the same

[@jeffreyhernandez3720]

How do I get in touch with you guys

[@AspireFineHomesHouston]

you can email me directly at [e-mail]