My wife and I purchased land about 3 years ago and are starting to gear up to start the process to set building a home on it in motion. We have no idea what the process is like or how it all works with a construction loan. I'll probably jump around a bit with my questions but I'd love any insight anyone has.
- Any recommendations on an architect to use to work with us on starting on plans? How does their fee work?
- What is the process like on a construction loan and how the GC would be paid? We own(Have a mortgage) the land and currently have a mortgage on our current home but have pretty solid equity in each. How does the process work with the construction loan? How much money do you have to come to the table with?
- General recommendations? Builder you liked? Things to keep in mind? I'm sure there is a lot I'm not even thinking of yet.
- Any recommendations on an architect to use to work with us on starting on plans? How does their fee work?
- What is the process like on a construction loan and how the GC would be paid? We own(Have a mortgage) the land and currently have a mortgage on our current home but have pretty solid equity in each. How does the process work with the construction loan? How much money do you have to come to the table with?
- General recommendations? Builder you liked? Things to keep in mind? I'm sure there is a lot I'm not even thinking of yet.
