Posted on: 04th Dec, 2008 10:15 am
Are there loans that will let the owner contract the building of a home until the dryed-in stage and then let the owner finish the rest of the house on his own? If so what kind of loan is this called and where should I look?
Thanks
Thanks
Do you want that the current owner will take the loan but later on the new owner of the property (i.e the buyer) will assume it from the seller? I guess that is possible provided that the lender accepts the assumption of the loan. The buyer should have a sound credit score and income. You can speak to the local lenders of your area and check if they are ready to do that.