I'm in the market for a new place to live.
I'm still saving and will be applying within next 90-120 days.
I'm seeking a new construction house on a big lot.
There are some listing I've found that are new construction on big lots already being built by builders.
How do I go about buying my own piece of land - getting a loan for it? Finding a builder that will work with me to build something that I want exactly.
Are there lenders that specialize in this? Especially if I'm interested in multiple states (NV, AZ, CA)
Keep in mind I'm only targeting a 225-250K home as would be typically listed.
Ideally I'm thinking I find a good size -1 acre lot in AZ or NV or CA and a builder and build a simple 1 BR + 1 Bath house.
Are there lenders, builders, land owners that specialize in this and already have pre existing relationships with each to make my life easier ? How would I find those people ?
If not, when working with the lender on a construction loan and also a mortgage loan do they look at specific contracts with the builder, your blueprints, build plans, experience building new homes, etc?
I have 0 experience working with builders- this is my first mortgage and my first home.
I'm almost at 0 debt with 650 credit score and 0 expenses grossinh 55K annual.
Any new construction advise is greatly appreciated.
I found a listing that is still being built - and I was hoping that me and my agent could convince the seller agent/builder/seller to build a slightly different base model than they originally intended to build.
525 score as of 9/2015 --- only way to go is up!
