Banking on Building Your Dream

How do you get a loan to build your home?

• Talk with your builder.  He has had many construction loans and can point you in the right direction.  
• Use a local bank where you can put a face with a name.  If you have questions, you can chat face-to-face, and not with a call center half way around the world.  
• Your local bank also has the pulse of the community and your local suppliers.  
• Most banks will loan up to 85 percent of the appraised value of the home to build it.  This means that in most cases you will need some capital to build your home.  

Never put the cart in front of the horse and have your dream home built in your mind before you have your finances in order with the bank.  Pick a lot, pick a plan, pick a builder, and pick a bank.  Four important selections before you choose paint!