Determine your financing.
If you are building a new home or doing a major remodel the Cavanaugh Team will simplify your project. We will help YOU with the co-ordination of your construction team and the many details of the financing requirements.
When looking for the right people to work with you, please keep in mind that you will be spending a lot of time together over the course of your project. Make sure you pick people that have good communication skills and that you feel able to work with comfortably!
What financing options are available and which one(s) will YOU use?
Cash – you may decide to pay cash or liquidate other sources.
Equity line – have this loan in place well before you start construction.
Cash out refinance- you have enough equity in the home before the construction begins.
One Time Close (OTC) – may not have enough equity in the home currently. You will need to provide all plans and specs so the lender can use the future value, after the construction is complete.
A construction loan with a permanent loan to follow upon completion of construction.
Determine the “end loan” payment that you are comfortable with and Budget your Build to that payment.
Call Kelly today!
408-356-2505
