Built to spec

Home construction loans offer home buyers lots of options

MOSES LAKE — One of the peculiarities of the Columbia Basin is that, even in a housing crunch, we’ve got tons of land waiting to be built on. There’s space for housing, just not the homes themselves. One solution to that is for would-be homeowners to look into a home construction loan. “Because of the limited inventory that we're seeing in the existing home market, a construction loan gives (home buyers) the option to build a new home on a lot,” said Terran Brown, a sales manager with Churchill Mortgage, which recently held an online informational seminar in Moses Lake on home construction loans. “Specifically in the Moses Lake area, you have plenty of land, plenty of lots available for a good price where you don't have a ton of existing resale inventory.”