So you are very interested in using some of the professionals in the GREEN RESOURCE DIRECTORY AR Members are creating. You could pull your project together, build your dream home, and minimize your footprint on the environment.
Where do you start? Your very first step could be funding the project.
•· You could give a call to a mortgage broker, like me. I could tell you about investors with whom we work who specialize in a niche market. One of those niche's is the Construction Perm (CP Loan) .
The ONE TIME CLOSE CP LOAN IS a remarkable product to help you construct your LEED Certified or Greenbuilt home. Lenders design the CP (Construction Perm) Loan Program to help the homeowner, the REALTOR®, the builder, builder's subs and suppliers get through the construction process with minimal grief. For example, you could streamline the process. Instead of two loans for the construction process, possibly 3 if the land is purchased separately.
- Vacant Land/Lot Loan
- Construction Portion - many times interest only for one year
- Final Mortgage following Occupancy Permit
Wow! 3 closings.
You could use the CP Loan, a product I recommend to my clients.
After all, you are the one who is paying for several closings. And you could be saving money with the ONE TIME CP Loan where all the loans are combined into one. You close ONE TIME. . .for the Land, the Construction Loan and the Final Mortgage. Are all combined in your first approval.
STAY TUNED FOR PART II of this series
I take great care of projects!!!
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