Chicago, IL. (August 1, 2024) — Michael Crossett, Executive Vice President, was featured in an article called, What to Know About Buying a Log Cabin from U.S. News & World Report®.
In the article, Michael shares his home financing expertise and informs us that log cabin construction loans may take much longer than a conventional home construction loan. When you’re building a log cabin, it’s important to be aware that a longer build time may expose the project to greater risks like material changes and labor costs. And it’s incredibly imperative to work with a lender that understands the whole process.
“A knowledgeable lender will thoroughly vet the builder to make sure that they have a good history of delivering the logs quickly, safely and reliably,” Crossett says.
Michael also mentions that the smoother and faster the process, it may potentially cost less. Since borrowers are required to pay the interest cost of carrying materials during construction, they’ll likely want the process to be as short as possible.
Learn more about buying a log cabin from the article at https://realestate.usnews.com/real-estate/articles/what-to-know-about-buying-a-log-cabin.
Contact:
The Federal Savings Bank
Michael Crossett
NMLS#184313
[email protected]
https://www.thefederalsavingsbank.com/michaelcrossett/
About The Federal Savings Bank:
The Federal Savings Bank is a federally chartered bank, veteran founded and operated. We are proud to be a nationwide mortgage lender, supporting borrowers in all 50 states. We believe in unparalleled experience, exceptional customer service, operational excellence, and community beyond walls.
This information is intended for educational purposes only. Products and interest rates subject to change without notice. Loan products are subject to credit approval and include terms and conditions, fees and other costs. Terms and conditions may apply. Property insurance is required on all loans secured by property. VA loan products are subject to VA eligibility requirements. Adjustable Rate Mortgage (ARM) interest rates and monthly payment are subject to adjustment. Upon submission of a full application, a mortgage banker will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.
