So, you've got your heart set on a log home. You may have heard of financing troubles people have when they build their own homes. Mortgages are a little trickier for homes that haven't been built yet as opposed to when you move into an existing home. This is because you need money to pay for the land and the construction costs all based on the future value of the home. A site on log homes information has an article called "Financing Log Homes" that is worth checking out. Among other things, it says, "In order to secure financing, lending institutions must assign a value to your project. They will then lend a portion of that amount, depending on factors like economic conditions, your financial situation, and their perceived risk." Read the whole article for more information.
Thanks I've always wondered how buying your own land and having something like a log home built from scratch would work as far as financing the home goes.
Posted by: Jason | November 01, 2006 at 12:22 PM