Spring into Construction – Build When the Weather is Nice!
Spring is here and tax refunds are in! Will you be in the market to buy a new home? The spring season is peak time for selling and buying homes; however, the amount of Hawaii houses being listed and sold is less than the amount of people who are in the market to buy a home. With a limited number of houses on the market, the competition among potential home buyers has driven the prices of homes upward. For the first three months of 2016, the median sales price for single-family homes has stayed over $700,000. While this news may be discouraging, there were also many homes that sold for less than the median price. A significant portion of the homes that sold for less than $700,000 were considered “fixer-uppers.”
These fixer-upper houses have the potential to become dream homes with some imagination and renovation. If you’re thinking of buying a fixer-upper or if you already own your home and have extended family members living with you due to rising rent prices and an affordable housing shortage, CU Network Services offers a couple of solutions.
The Owner-Builder Construction Loan is a short-term loan of up to one year with interest only payments during the construction period. While knowledge of home construction is necessary, this loan has a quick turnaround time from start to finish. The same Owner-Builder Construction Loan may be a good option for adding some extra space to your now multi-generational house. If you’re new to the owner-builder construction process, CU Network Services can recommend a variety of local builders to help you build the house of your dreams.
CU Network Services’ Home Equity Line of Credit (HELOC) is an alternate financing option to the Owner-Builder Construction Loan if you’re already a home owner and you’re looking to build an addition to your house to accommodate a growing family. CU Network Services LLC offers a No-Cost HELOC with a two-week turnaround time and payments spread over 30 years.
Whatever your needs may be, CU Network Services works with you to provide quick and reliable funding. Contact the home loan experts at CU Network Services LLC and ask for more information about their Owner Builder Construction Loan and their HELOCs. Call them at 529-4599 or visit their office at 715 S. King Street, Suite 100.