Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Building a house on an empty lot

Red · 09-23-2013, 03:09 PM

400K will surely build a nice house.

Here is what used to be a problem. Perhaps it's changed, but banks don't like lending money for land. So you'd need to buy the land cash and then finance the house with a builder the bank feels comfortable with. Or something to that affect.

Again, that may have changed recently with all the loosening of loan rules.

09-23-2013, 03:09 PM	#2
Red Lifetime Suspension Join Date: Oct 2001 Exp:	400K will surely build a nice house. Here is what used to be a problem. Perhaps it's changed, but banks don't like lending money for land. So you'd need to buy the land cash and then finance the house with a builder the bank feels comfortable with. Or something to that affect. Again, that may have changed recently with all the loosening of loan rules.