custom home: How do you avoid payments during construction of your home?
- 01/10/08 04:58 AM
Use an interest reserve account: At loan closing, an account is established to pay the estimated interest costs during the construction of the home. Since the borrower is only charged interest on the amount of funds disbursed, an estimate of the average disbursed amount is made. Your construction loan specialists will estimate that, on average, 60% of the loan amount will be disbursed during the term of the construction period. This interest reserve account is paid up front and is held to pay the interest during the time of construction. The idea of this account is to help individuals so they do not … (1 comments)
custom home: Log Home Construction Loans
- 01/10/08 04:52 AM
The all inclusive, one-time close, Log Home Construction Loan program will insure that building your log home is a simple and rewarding experience. The log construction loan program will work hand in hand with AHK. These programs are specifically designed to provide the funding necessary for your Log Home order to be placed and also for the delivery of your Log Home to your construction site. The one-time close feature of the log construction loan, combines three loans into one, encompassing your land purchase, (if necessary), your log home and construction costs, and your choice of permanent financing, with just one closing. … (1 comments)
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