Ok, my credit union has a
free program, with people there Monday-Saturday during normal business hours to help answer all my stupid questions, who will help me find a realtor and house/land, and who will, at the end of this whole process,
give me cash?! Up to $1,000 per transaction (which may end up being two - land and modular house), with an additional $100 for financing through Navy Federal.
Where is the drawback, here? I mean, other than the insane amount of junk mail I'm going to be getting.
They've already answered some of my funky questions about this whole land-then-house thing, and told me where to go to answer the rest.
That's where we're currently looking, by the way - buying land and putting a modular home on it is going to be as cheap, and in most cases cheaper, than buying an already-built house with enough land for le horse. Who's finally paid off as of yesterday, yay.
We can get sufficient land for around $50,000. We
could get 15 acres about a mile from Lake Anna State Park for $100,000, if we cared to go that high. The modular home is going to
cost us somewhere between $54,000 and $180,000, although I should note that most of the models I'm looking at are not at the extremes of that scale - say $130,000, which is where I was looking in the first place. That gives us a brand new home on a 5+ acre parcel of land for under $200K.
Drawbacks involve the 2-6 month delay in being able to move in, and needing information on the mysterious "construction loan," which may or may not require monthly payments before completion. This construction loan would include both the house and the land at the end, so only one payment. One much smaller payment than it would be for the houses we were looking at before.
Then again, there's always the trailer on 8 acres for $80K, but I think I have too much pride to actually buy a trailer, even with the intention of building a real house to live in on the land.
I will perservere! The drawbacks of last week
will not prevent me from moving out of the hellhole I currently live in! Huzzah!