Episode 70: Is Building Actually Cheaper?

Building a home can feel overwhelming, especially when you’re trying to figure out how much you need to put down, how construction financing works, and whether building is actually more affordable than buying an existing home. In this episode of Wallet Wisdom, Brett sits down with Luther, an LMCU mortgage loan officer with 20 years of experience, to break down what you need to know before deciding whether to buy, build, or renovate. From construction loans and lot equity to down payments, appraisals, timelines, and common misconceptions, Luther explains why building a home may be more attainable than you think. --- The information provided in this podcast by Lake Michigan Credit Union is general education or marketing in nature and is not intended to be accounting, legal, tax, investment financial or other advice. Statements of individuals are their own and not LMCU’s. All topics discussed are information of a general nature and do not address the circumstances of any particular individual or entity. Consult an appropriate professional concerning your specific situation. As of the date of publishing or any future date this podcast is broadcast, all rates, fees, payments or other specific figures discussed are subject to change and are dependent upon your specific financial situation. All loan products discussed are subject to credit and collateral approval. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content in the podcast before making any decisions based on such information or other content. In exchange for listening to the podcast you agree not to hold LMCU, its affiliates, or any third-party service providers liable for any possible claim for damages arising from any decisions you make based on information made available to you or other content made available to you through the podcast. For more information on any of the content discussed in this podcast please visit LMCU.org. Copyright Lake Michigan Credit Union. Federally insured NCUA. Equal Housing Lender NMLS ID # 442967.