My husband and I are about ready to offer on a piece of land for our log home. I have a couple questions for those out there who have already been through this. One is, which lender did you use? I've seen several that supposedly specialize in log home construction, but would love some first hand reviews! Second, did you stay in your current home while your log home was being built or did you sell your home first? I hate the thought of moving twice and renting in between.
M&T Mortgage is good, if you wish to call your local agent.
Farm Credit Services has proven to be friendly towards log home construction, also try a local neighborhood bank, some time the small banks are the most helpful.
Tina Congratulations on realizing your dream! Different states have different rules & processes on financing. I agree with Ed Ziobro below. Farm Credit is helpful and knowledgeable about log home financing. In our neck of the woods, they require at least 25 acres of land in order to finance your log home construction. That varies in different states. Recently we've had more success with financing with our smaller local banks. If you already have a relationship with your local bank, that's where I would start asking questions. At our office, we visit regularly with the banks in our area so that we remain aware of changes that they are having to deal with with financing log homes. You might check with a log home company near you to get information specific to your area. We sell and build Katahdin Cedar Log Homes in OK. In the Katahdin newsletter, they had an article recently about financial updates that had lots of good information in it. The link: http://www.katahdincedarloghomes.com/constmortgages31313
Best wishes! Ed Davis