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The Water Cooler
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Buying Land/Construction Loans?
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<blockquote data-quote="farmer17" data-source="post: 2081887" data-attributes="member: 8389"><p>I've been a home builder for 19 years, talk to your banker about a construction loan. They will ususally loan 80% of the final appraised value on the land, house, and improvements. You will need to to give the banker the land info, plot plan with house located on the land, and the house construction plans, then the bank can get a value from their appraiser. If you have any questions feel free to PM me.</p></blockquote><p></p>
[QUOTE="farmer17, post: 2081887, member: 8389"] I've been a home builder for 19 years, talk to your banker about a construction loan. They will ususally loan 80% of the final appraised value on the land, house, and improvements. You will need to to give the banker the land info, plot plan with house located on the land, and the house construction plans, then the bank can get a value from their appraiser. If you have any questions feel free to PM me. [/QUOTE]
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