We were able to secure a HELOC at First Citizens for a 12-month introductory rate of 5.99%. We intend to use the HELOC to clear the lot and drill the well. Depending on how deep the Lord decides to give us water will impact the amount of draw required.
We’ve had many ideas regarding financing. We have settled on the plan to sell our current residence to finance the building rather than securing a construction loan.
We will need $212,000 to secure The Boone build at the factory. We are trusting the Lord to sell our current residence for enough to cashflow the modular construction.
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