Construction Loans Before you sell yourself short, talk to a mortgage company. Many lenders are more than happy to lend you money for a lucrative project, because it means profitable business for them too. Construction loans are the backbone of many mortgage company portfolios, and if you own a vacant lot that has market value, lenders will normally lend you money based on the collateral of the vacant lot. You get cash to build a new house, and after you sell the completed project you can pay back the loan and pocket the profits. Other construction loans allow you to borrow money from the builder's own sources, in the same way that you might borrow money from an auto dealer to pay for the car you buy from them. Construction companies with their own mortgage sources may charge you higher interest rates, however, than conventional lenders. Shop around for construction loans. More often than not, deciding on a builder and the best source of funds will take longer than it actually takes to build the house, but it is time well spent. A few interest rate points can make a difference of thousands, or hundreds of thousands of dollars. Talk to lots of lenders and buil For more read at http://www.marylandrealestatesecrets.com Posted by Jim Green on December 13, 2008 at 12:00 AM About Jim Green Jim Green is affliated with Coldwell Banker Preferred, which is located in Longmont, CO. For further assistance please use the contact information located on the right. As of 05/21/12 the Jim Green RePage is ranked at 1,723 with 490 points.

Local Information for Longmont, CO

Latitude: 40.171583 -- Longitude: -105.109085

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ZIP Codes for Longmont, Colorado	80501  80502  80503  80504
Area Code for Longmont, Colorado	303
Time zone for Longmont, Colorado	MST

Other Area Cities:   Loveland, CO  Longmont, CO  Boulder, CO  Lafayette, CO  Louisville, CO 

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Longmont was founded in 1871 by a group of Chicagoans who had decided to found a new town in Colorado. Originally called the Chicago-Colorado Colony, the men sold memberships in the town and with the proceeds purchased the land necessary for the town. As the first planned community in Boulder County, the city streets were laid out in a grid plan in a square mile. The city began to flourish as an agricultural community after the building of the Colorado Central Railroad line arrived northward from Boulder in 1877. In the 1940s the city began to grow beyond these original limits. In the 1960s the federal government located an air-traffic control center in town and IBM built a large plant near the city. As agriculture waned, more high technology has come to the city especially in the computer hard drive industry including companies like StorageTek, Seagate and Maxtor. The downtown along Main Street, once nearly dead during the 1980s, has seen a vibrant revival in the last decade. -- Source: Wikipedia.com