Posts Tagged ‘Lot’

How does having our lot already paid for play into the equation for a home mortgage loan for building a house?

Monday, February 4th, 2008
home mortgage loan credit
shon h asked:


For example, we are buiding a home for $300,000. We need a loan for $200,000 and our land is worth about $30,000. Do we receive “credit” for a clear lien - making the loan amount actually $170,000?

Bernard