Tips for Financing a Custom-Built Home

Financing a custom-built home can be a very complicated process. (“The Hard Part of the Dream” by Agnes Huff, Jan. 2). These tips can help smooth the process:

* Start working on financing as early in the process as possible.

* Ask your lender to give you a credit approval upfront, subject to your plans and specs. That way you know you have financing lined up prior to completion of plans.

* Do your best to provide everything the lender asks for upfront and keep copies of everything you submit.

* Make sure you get a loan that includes both the construction and permanent take out loan all in one.

Otherwise you will have to search for a new loan after you complete building and need to pay off the construction loan. The combination loan will save you time and money in the long run.

GEORGE E. LEARN

Chase Manhattan Mortgage Corp.

Los Angeles