Fisher House (Hatboro, Pennsylvania)
The foundation of the home is built entirely of stone in, for Kahn, a traditional style of building. The stone foundation was necessary due to the home’s placement on a slope and its need for a solid anchoring into the ground of the site. The exterior and interior portions of the home are made from the same cedar wood sourced from the local Pennsylvania area. This was done to keep down costs. The woodwork of the Fisher house is often viewed as the most comprehensive of any of his woodwork during the period. Later projects were said to lack the continuity of the Fisher House, often smaller details such as interior doors were left unadorned in a way that left the project feeling incomplete to viewers. It was best in the end that Kahn was not allowed to build from all stone, because if he had the home would have been lacking in much of the great detail work that makes it so famous. The use of cedar wood throughout the interior and exterior of the home compelled Kahn to create amazing details in the building simply by folding windows into the building envelope to provide new habitable space on both the interior and exterior of the building. Had Kahn been left to build the Fisher House entirely from stone on the exterior then the details he created from windows never would have come into existence.
Construction loan
In the most basic situation, that of an individual building a home for themselves, a business building a property for business use, or an investor building a property to rent out, the fundamental guideline is for the lender to imagine once the loan has been fully extended and converted into a normal mortgage and the building is occupied, whether the individual, business, or investor can afford to pay back the loan on a monthly basis. In the case of the individual, where the lender attempts to predict whether the individual can pay each month the loan payment that would occur once the person moves into the house, the lender would be primarily looking at the amount of income the individual receives. In the case of the business, a similar analysis would occur. In the case of an investor building rental property, a special appraisal would be ordered which would attempt to predict what the rents will be and whether they will be enough to pay back the loan, plus all expenses and still give the renter a certain minimum amount of income. The key point here is that no matter how valuable the building might be once completed, almost no lender would extend a loan for more than what the occupier could afford, because even though they will not have to make any payments during construction they would have to make monthly payments once completed and there can be no assurance that the owner would pay down the loan enough to make the monthly payments affordable once the project is completed.