I am a veteran of Operation Desert Storm. I know that I qualify for a V/A construction loan but I am curious if that is the best way to go. I own my property (40 acres). I am just curious if going V/A is my best bet on this. Any help is appreciated.
Barrington, RI
Darrell,
VA is so rigid in some instances you may be better served looking into an interim loan from my bank and then you have open end perm loan choices.
If you are interested in getting some good advice give me a buzz or shoot me an email!
Regards,
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Mar 27, 2008 02:59 AM
Richardson, TX
Well my choices are very open. My mid is a 790 with very low DTI and very good verifiable income. Here is my idea. Borrow $60,00.00. I can get the slab done and get the outside of the home finished. I want to pay as I go on the inside with the finish out. I have an excellent relationship with several contractors. I guess my question is would a bank loan that amount knowing that I am going to pay as I go on the remaining construction? When the home is finished it will appraise in the neighborhood of $250,000. Would a bank carry the loan with the property set down as collateral on say 10 years?
Mar 27, 2008 03:08 AM
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