Use A Construction Loan To Build A House?

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Title	:	Use A Construction Loan To Build A House?
Lasting	:	8.44
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Views	:	118 rb

100 for land 300 for build I'm from Montana that will immediately appraised for at least 700k
Comment from : CJ Spencer

Great info I is this the same in California not the price obviously but the process
Comment from : TruckerBod

Thank you very much Very informative !
Comment from : andy dignam

Can you build a home, on your own land using an established builder (ex Newmark Linz model)? Or do they have to be in their lots only? Because Houston area homes lack yard space!
Comment from : M James

Churchhill mortgage SUCKS I had to file a complaint against them with the CFPB
Comment from : Michelle Brady

I have to say that he's wrong You can be your own builder This is our 2nd build, we don't have a lot of experience doing it ourselves We own our land We had an engineer work up our home on a piece of paper that contained electrical, etc We went to the county, got our building permits and started the house We borrowed 120,000 and it's appraisal is 297,000 We have 1 year to build 3 months in and we're almost 50 done You will need money to put in septic, water, power and an up front money for the loan but it's doable as long as you don't get crazy with your design Ours is a 1700 Sq ft, 2b2b home
Comment from : rhonda Still

We have a small house on a large property in TN Our house now has a very large amount of equity We would like to build another property on our land & keep the 1st as an investment When should you do a HELOC vs Construction Loan? Or just does it depend on where you shop around for the best terms, rates, etc?
Comment from : Alexa Claire

Some people don’t have money so they cannot buy a house or get whatever they wanted!
Comment from : Apocalypto (The Animals)

Very helpful, thanks!
Comment from : Raymond Barrett

Houses are the biggest scams
Comment from : ICU

How you going to build a house unless your a contractor? You have to have someone inspect all the jobs from plumbing, electrical, brRoofing, etc
Comment from : NevaJ

Dave, I have the cash to build, should I still get a construction loan and put down almost the purchase price just to reduce the interest and have some oversight on the builder?
Comment from : hot Dog5

Asking Dave anything on new home construction is like Asking a fish about quantum physics
Comment from : Tracy Galuszynski

I am an unmarried person on a single income and I’m trying to get my land paid off I have $18,500 left and once it’s paid off I plan on working on house plans :)
Comment from : Briana Budgets

What about a usda construction to permanent loan ?
Comment from : Brooke

Stop Ramsey asking stupid questions
Comment from : Kevin Clark

I got a construction loan to build my own house while not being a contractor I guess it changes state to state
Comment from : LibertarianUSMarine

This caller is not genuine; she could afford a decent phone if they had 90k a year
Comment from : Dustin Pappalardo

Sounds like she does nothing I sense a divorce in their future
Comment from : Nexium92

"I stay I work at home" lol :D
Comment from : Antanas

Except Dude, not enough carpenters Workers are building large projects A builder I know in Arizona will not even look at new home builds
Comment from : Vivian Smith

Jeez this caller doesn't have a clue
Comment from : Peter Gietl

How is your land value appraisal?
Comment from : SOUTHERN LIFE

Wow she sounds so enthusiastic
Comment from : Bill Freedman

This was a very strange call
Comment from : Monty Mython

🙏✝️
Comment from : Luke Harris

I really liked the personal moment between Dave and Rachel about Dave’s real life
Comment from : Jude Allen

Well this ain’t happening 😆
Comment from : Jordan Dynamite

I was quoted $50k for a 14 x 20 deck! Ya, I'll wait
Comment from : Mike C

Worst time to do anything, everything is damm expensive
Comment from : john done

were booked till 2025 so a favour it will be especially with that attitude In canada you do not need to be a builder or hire one to take out a construction loan I have done it and am only a carpenter and did not need to prove it, the rest he is correct on
Comment from : michael fordyce

Uh oh did Dave Ramsey’s advice back fire on this couple ? Sort of sounds like it
Comment from : Ren White

I guess it would help a lot to have an acquaintance or friend who actually builds houses bralso to have $3 or 4 x 1000 in the bank
Comment from : David Powell

Don't hurry Just wait
Comment from : Jim Roscovius

My bank actually did have an option for DIY home construction but it was more expensive and required plans and a large contingency
Comment from : Rachel N

We just built a house using the land as the down payment using a construction loan and everything was great
Comment from : Rachel N

We just got a construction loan and do not have a contractor But that’s probably because my husband is a carpenter? I have no clue But we just got approved for 182k
Comment from : Alicia Hernandez

Good luck building a house in Missoula Montana for 300ktry 700k
Comment from : Coorc5

She makes this nearly unwatchable
Comment from : Thaddeus Wascheck

Wonder why he only makes 90k as a fullstack I make 180k as a Front end developer He may need to look for a better job to help with the expenses
Comment from : bryam pacheco

Wow I was not expecting Missoula That much expensive
Comment from : Alaskan igloo

Just what i just did recently Got it for 1yr loan 💪
Comment from : Jm Seva

absolutely this is a wonderful video thumbs up !,,
Comment from : Yasin Nabi

Sell the land and buy a cheap condo, if you can find one, and call it a day
Comment from : Karim Bennett

A whole year to find a job as a Software engineer? He probably wasn’t keeping his skills updated
Comment from : cw

We have new neighbors building a home here in our subdivision- they waited months & finally got their windows in this week Everything takes months to get Garage doors but none of the parts that make it work, it’s a running list of issues
Comment from : Chele1985

Yellowstone 🤠 although most of the show was filmed in Utah
Comment from : Tania Martinez

I've learned that 90k is not enough to get a 15 year loan for 80 of a 300k build at 25 gross income
Comment from : Stephen

Joke’s on Dave, I got a construction loan without being a “contractor” Almost done with the house
Comment from : Brennan Wolf

Caller: "I did call a contractor" brDave cuts her off with "Call my mortgage people" 🤣
Comment from : Justin Case

I like people that take an alternative path, they will be pretty fine and debt free in less than 10 years
Comment from : Felipe Ventura

Joanna Montana
Comment from : KB

I found the information helpful Hadn’t considered that the paid for land could be considered a down payment Thanks for sharing
Comment from : fryefoto

I'm avoiding the construction loanbrbrSelling a paid off house and trying to cash-flow the housebrbrCurrent estimate is I should have 1/3 of the sale price of hose left when the new house is finishedbrThat leaves me a good buffer for unexpected
Comment from : F Huber

I bought land but no home hmmmm interesting
Comment from : itamchi

This call made me nervous I really hope it works out for them
Comment from : Christina

Loved this video
Comment from : James Shaw

wonder how long before he gets outsourced
Comment from : George Mendez

I greatly appreciate info like this My wife and I are in the same boat roughly Just waiting for prices to become reasonable again in order to build
Comment from : Steven Burroughs