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Michele Kramer
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Construction Loans & Appraisal & log home mortgage companies?
10 Replies
We are in the process of securing financing for our log home in Pa . We are working with one local bank that we need to get our builder on their "approved" list and wants to make sure they can work…Continue
Started this discussion. Last reply by Greg Altizer Mar 19, 2011.
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Greg Altizer replied to Michele Kramer's discussion Construction Loans & Appraisal & log home mortgage companies?"I have options for you if you still are in need."
Michele Kramer left a comment for John Mitchell"Thanks John. Everything is in the works with Penn Security Bank and so far so good. We will be starting as soon as we have the closing. It is an Esemerwalt log home kit. Just can't wait until the paperwork is finished and the hole is…"
Bill Tolliver replied to Michele Kramer's discussion Construction Loans & Appraisal & log home mortgage companies?"We went with Wells Fargo Bank. They proved to be the most familiar with log homes and their interest rates were very competetive. (4%) Give them a call."
Michele Kramer replied to Michele Kramer's discussion Construction Loans & Appraisal & log home mortgage companies?"We are in north eastern Pa also. I think we have everything figured out. The local bank we bought the property with is helping us out. I just spoke with the underwriter and they will work with the log home draw schedule and feels confident…"
CJ replied to Michele Kramer's discussion Construction Loans & Appraisal & log home mortgage companies?"Hi Michele,
If you don't mind my asking, where at in PA - eastern, central, western? Reason I ask is I'm in eastern PA and may have a few suggestions for you.
"
shanny replied to Michele Kramer's discussion Construction Loans & Appraisal & log home mortgage companies?"In Maine, we are all about local banks (they did not fall into the forced baking collapse).
If you have got good credit, conservative financial record...the local bank is where you really should be."
Michele Kramer replied to Michele Kramer's discussion Construction Loans & Appraisal & log home mortgage companies?"Thanks guys for your suggestions. I know these are tough times to try and get a construction loan, never mind for an unconventional home. All we can do right now is get as much info as possible and find the best fit for our situation.…"
Tim Bullock replied to Michele Kramer's discussion Construction Loans & Appraisal & log home mortgage companies?"Michele, Your story is being told throughout the country right now and it almost seems to be getting worse. I would keep looking and would look at the National Banks rather than local as they have "your" money to loan you.
I had heard that…"
Steve Daniel replied to Michele Kramer's discussion Construction Loans & Appraisal & log home mortgage companies?"This may not help directly, but we were able to use a local bank that had a "log home appraiser" and he used "rustic" home sales as comps. The bank was purchased by another bank while we were building and things began to get more…"
Randy Esposito replied to Michele Kramer's discussion Construction Loans & Appraisal & log home mortgage companies?"Michele,
I use a lender that would have no problem with the comps or the payment on delivery but I'm not sure if they lend in PA. I also have a contact at Citizens Bank in PA that specializes in log home financing. if you…"
Bob Warren replied to Michele Kramer's discussion Construction Loans & Appraisal & log home mortgage companies?"Michele,
A difficult problem as no matter how much work is done the house will be worth, according to an appraisal, far less until it is 100% complete.
Something I have in my contract and you could try is an escrow account. See if the…"
Michele Kramer posted a discussionConstruction Loans & Appraisal & log home mortgage companies?
We are in the process of securing financing for our log home in Pa . We are working with one local bank that we need to get our builder on their "approved" list and wants to make sure they can work with the manufacturers draw schedule. I have been shopping around checking all our options. One local bank told us there is NO Way we will get financing for our home...from any bank..because of the appraisal process. Does anyone have any suggestions on a company that would be comfortable to work with…See More
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- Tell us about yourself:
- This is our hunting cabin we built from ground up in 2006. The trees were all cut on our property, milled on our sawmill, and spun round, swedish cope style. The stone was all picked from our feilds and stone walls and the most recent addition is the railings built from a fallen tree near by. This is not a residence, but rather a family recreation cabin.
My husband and I are looking forward to building our log home in 2011
- Are you lucky enough to be living in a log home?
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Michele Kramer's Photos
Comment Wall (2 comments)
- At 2:46pm on January 5, 2010, Julie Phillips said…
- Michele, My name is Julie Phillips and I work for Hess Log Home Supplies located in central Pennsylvania. We are your closest distributor for Perma Chink Systems Inc. We are hosting an application workshop April 24th, 2010.
The main purpose of the workshop is to educate and demonstrate the application of our products. If this sounds like something you are interested in please e-mail me at julie@hessloghomesupplies.com
- At 6:11pm on December 31, 2009,
Marla said… - Hi Michele, We purchased our log home from Canada's Log People and are very pleased with them. I have a few pictures of our home on my profile page. We are doing the finishing ourselves so we haven't moved in yet. I hope to add a few new pictures soon. Best of Luck, Marla
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