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candyman · 05-28-2003, 11:21 AM

NoSoup *Yelling* You have come to my rescue!

We have recently sold our house and want to build in the spring. We are currently renting at half the cost of our previous mortgage to save for the down payment costs of a construction loan. I also plan to purchase property now, hopefully Land Contract, to lower the land cost when rolling it all into a construction loan.

Any pointers? Suggestions?

Are VA loans any good for building? My previous realtor and mortgage officer stated there is a moutain of paperwork to go through and it ends-up not being very beneficial (interest is higher). Is that true?

Is there any way around having 15-20% down to start construction?

I am sure there is more, but I deeply THANK YOU for sharing your knowledge. If there is anything I can do for you, please let me know!

candyman

05-28-2003, 11:21 AM	#24 (permalink)
candyman Addict Location: Just look over your shoulder!	NoSoup Yelling You have come to my rescue! We have recently sold our house and want to build in the spring. We are currently renting at half the cost of our previous mortgage to save for the down payment costs of a construction loan. I also plan to purchase property now, hopefully Land Contract, to lower the land cost when rolling it all into a construction loan. Any pointers? Suggestions? Are VA loans any good for building? My previous realtor and mortgage officer stated there is a moutain of paperwork to go through and it ends-up not being very beneficial (interest is higher). Is that true? Is there any way around having 15-20% down to start construction? I am sure there is more, but I deeply THANK YOU for sharing your knowledge. If there is anything I can do for you, please let me know! candyman __________________ "I am the writing on the wall, the whisper in the classroom. Without these things, I am nothing."