Log home construction loans

Log home construction loans provide the money needed for consumers to build a log house. This is granted to a borrower who acts as their own general contractor to build a house for personal use or for an owner who hires a contractor to construct the home for personal use, resell, or investment rental property. Log home construction loan interest rates are almost always variable starting at prime plus 2 percentage points. This funding will last 6 months and can be extended depending on the length of time the builder takes to complete the project. Loan to value ratios vary with each program, but typically hover around 90%, with 10% of the total amount as a down payment.