My wife and I just sold our house and are looking to buy roughly 11-15acres and build a barndominium as our main residence. Has anyone done this and can provide a good lender to do so? I have talked with Capital farm credit and they will offer a Portfolio loan but the interest rate would be 5.5-6%.

Any advice would be appreciated. Thanks

you sold your house before having this plan?

What area are you looking at?

First Financial Bank
Don't know where you are, but closest branch to CS is in Huntsville.

Walton,
It's not really a big deal as we have a place to live in the meantime. I have had the plan for sometime and if need be would just pay cash for the bandominium. Just looking to see if anyone out there has done the same thing and had a good lender

Tex,
We are in Waller/Hockley area.

Oh, well thats a lot better then. It can take awhile from the financing to building, from what ive seen.

Yeah, I have built our last 2 houses on One time close construction loans but it seems banks do not like the word "Barn" when doing these. The main we reason we are looking to do something like this is to keep taxes down and it is only my wife and me so we don't need much space.

Email me at rhtexfish at gmail I may be able to help.

I would go to either the local bank or a Prosperity Bank. They have good construction to permanent loan programs.

We used prosperity when purchasing our Barndominium on 11.5 acres. I think our rate is right around 3%. We did have to put 20% down and finance on a 15 year note but other than that it was no different than financing a traditional house.

Not sure how much building the Barndominium vs it already being there will affect the process but I'd give your local prosperity a call

We have built 2 barndominiums and have gone with local financing both times.

OP I work at a local bank and we have done these

Thanks guys, appreciate all of the replies!

Tex, I will shoot you an email shortly to see what you can do.

Thanks again!

If you are still looking. One of my Jumbo lenders said they will do these if they make sense and comps are available. I would be happy to explore it further it further if you like.

Jeff Deats
jdeats@homebridge.com
214-601-8757

A good plan violently executed now is better than a perfect plan executed next week.
-George S Patton