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[email protected] trader4@optonline.net is offline
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Default Buy land and trailer, then build home? Mortgage questions...

I'm with Roger. If you're renting now, I don't see the compelling need
to make things even more complicated by buying a trailer to live in and
then selling it. A house can be built here in NJ, which isn't noted
for speed, in 8 months. Why can't you just continue to rent?

Then you need to work with a bank that will give you a construction
loan. They hand over the money in stages as the work is completed.
Then, at the end, it gets refinanced with a conventional mortgage. As
someone pointed out, banks like to see the land either paid for, or
else at least a substantial amount of money put into it.

I think the best advice is the comments made by someone else. There is
a glut of homes on the market just about everywhere in the US right
now. At the same time, I don't think construction costs have changed
much. Which means you have plenty of time to find a house you like
and get it at what I think will be a better deal than going through the
construction process.

Some other things to consider. If you go new construction, are you
going to pay someone to build and deliver the house or are you going to
act as the general contractor, controlling the project, hiring subs,
etc. If it's the latter, I think anyone doing it for the first time
is going to be in for a lot of expensive surprises. If you haven't
done this before, there are lots of mistakes you;'re going to make that
are going to cost you time and money.

So, I think finding a house that is very close to what you would want,
and then perhaps making some upgrades,.like maybe a new kitchen, etc
that customize it to what you want is an easier, safer, and also
perhaps better deal $$$ wise.