Log Home Construction Loans

These loans are easy to get, just a bit more difficult to find.  They work just like a regular construction home loan.  You can be the contractor to build your home, or you can hire someone else to do the home for whatever use you need the log home. 

These are relatively short loans, lasting only about 6 months, but they can be lengthened to allow more time for the construction of the home. The loan to value ratio is usually around 90%, and 10% of the total is for the down payment.  You can get a log home construction loan in the amount of $50,000 all the way up to $350,000.  That would be one nice, and very large, log home!  The money will come to contractor based on the work complete or just on time-based increments. 

You can go for a long term or short term commitment to meet your own preference.  Usually you're required to send invoices to the loan agency's department, and they will require signatures of all the parties involved in the construction.  These types are loans are fairly short term for the most part, because it must be repaid in full as soon as the home construction project is finished.  Then you must either get a conventional loan or pay it off with your own money somehow. 

If you've got great credit, go ahead and get your credit report before you sign up on the log home construction loan.  You're bound to get some better rates with a good credit report.  This will also decrease the amount of your monthly payments for the loan, assuming your interest rate is low.  Hopefully our research has helped you figure out what you're going to do about your log home construction, good luck!

You can get a Log Home Construction Loan pretty much the same way as a conventional home loan. Check out the online lenders for the best deals.