Construction Loans

Did you know interest rates are lower for a construction loan right now, than they are to purchase an existing home?  Not much lower, but they are lower at some banks.  I have 4 flat lots listed for sale in Crofton that would be perfect for building your custom home.  Does the idea of building scare you?  Start by buying the lot.  Owning the lot can be part of your down payment for the construction loan.  It helps, and if you decide not to build, then you haven’t really lost anything.  Plan a couple of years in advance, for actually building because that’s how long it will take your builder to be available.  That might be ok though because that gives you time to figure out exactly what you want.  Write down some cool ideas or  I can give you some.  You can also talk to someone at Carhartt Lumber, Mead Lumber or another building supply store about floor plans.  Let’s start though, by buying that lot!