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Reading Room Category - Financing



Luck of the Draw | Loan Scheduling
By Joe Bousquin | Log Home Design

The draw of log-home living is obvious: Their rustic good looks and close-to-nature feel inspire us to fall in love with them time and time again. But, when it comes to financing, understanding the draw schedule behind your construction loan can be less clear.





Luck of the Draw | Loan Scheduling
From NAHB Log Home Council

As with the purchase of any home, one of the first places to begin in the planning of your new log or timber frame home it determining your budget. There are many things to consider. First, if you do not own the land already, you will need to take into account how much your land purchase will be and the cost of clearing the land. Additionally, even though interest rates have gone up slightly they are still much more affordable than in many times of the past. How large of a home do you need? Who will be building your home? Is your credit score above 700? If not you will need to take steps to boost your score. What are the current Loan to Values and Comps in the area?

For the average individual, buying or selling a home is an event that may occur only once or twice in a lifetime—particularly when the object of the transaction is a log home. The apparently daunting task of securing the best mortgage for the purchase of a log home requires an element of trust in the professionals who provide such services on a regular basis. Choose a lender with proven stability and reputation that has knowledge of the log home building process to guide you through financing.





Getting the Best Mortgage
From NAHB Log Home Council

As with the purchase of any home, one of the first places to begin in the planning of your new log or timber frame home it determining your budget. There are many things to consider. First, if you do not own the land already, you will need to take into account how much your land purchase will be and the cost of clearing the land. Additionally, even though interest rates have gone up slightly they are still much more affordable than in many times of the past. How large of a home do you need? Who will be building your home? Is your credit score above 700? If not you will need to take steps to boost your score. What are the current Loan to Values and Comps in the area?

For the average individual, buying or selling a home is an event that may occur only once or twice in a lifetime—particularly when the object of the transaction is a log home. The apparently daunting task of securing the best mortgage for the purchase of a log home requires an element of trust in the professionals who provide such services on a regular basis. Choose a lender with proven stability and reputation that has knowledge of the log home building process to guide you through financing.





How to Determine Your Budget
From NAHB Log Home Council

As with the purchase of any home, one of the first places to begin in the planning of your new log or timber frame home it determining your budget. There are many things to consider. First, if you do not own the land already, you will need to take into account how much your land purchase will be and the cost of clearing the land. Additionally, even though interest rates have gone up slightly they are still much more affordable than in many times of the past. How large of a home do you need? Who will be building your home? Is your credit score above 700? If not you will need to take steps to boost your score. What are the current Loan to Values and Comps in the area?

Download this article by the NAHB Log Home Council to assist you getting started determining your budget. Remember, here at StoneMill we will be happy to assist you and answer any questions you may have to begin your journey to your new dream home.





Financing Your New Log Home
By LogHome.com

We know you're eager to get started, but first you'll need a hard-nosed look at finances.

Your budget will affect every aspect of your home, from its size to its level of amenities to its location. Now's the time to meet with a lender or loan officer to find out what you can afford or how to start adding to your log home nest egg. With a dollar figure in mind, you can begin designing and planning for your home.




Appraising Log Homes: Comparing Processes
By The Log Home Council

One of the very important aspects when building a log or timber frame home is the appraisal. Read this article by the Log Home Council to understand this process better with these types of home. There are some misconceptions out there.