By admin on 09/05/2010
Getting a loan pre-approval from a lender is a quick, easy process. Typically, you fill out a few pages about your financial situation, the bank runs the numbers through a computer approval system, and you’re pre-approved the next day.
So, how do so many people mess it up so badly? Simply put, people lie (either to [...]
Posted in Forex Master | Tagged a, an, application, botch, builder, construction, example, from, home, how, loan, loans, owner, to
By admin on 24/04/2010
Construction loans, especially owner builder construction loans, are tricky enough when the mortgage industry and housing market is doing well. Things got a lot tougher, though, when lenders tagged certain counties around the nation as being areas of declining values.
These counties are known in the mortgage industry as soft markets, and they are having a [...]
Posted in Forex Master | Tagged affect, and, construction, do, how, loan, markets, rates, soft, terms, your
By admin on 02/04/2010
If an owner builder understands the differences between his construction loan and other, simpler types of mortgage financing, then he will be much better prepared when starting his planning and financing. Owner builder construction loans are a more complicated process than a standard mortgage to purchase or refinance a home. Therefore, they will require a [...]
Posted in Forex Master | Tagged a, an, and, between, builder, construction, difference, loan, owner, purchase, simple, the, understanding
By admin on 28/02/2010
People building a custom home, whether acting as an owner builder or hiring a licensed general contractor, often have to be reminded of one simple, vital point: look at the big picture.
Owner builders, especially, have a chance to save tens of thousands of dollars being their own general contractor and managing the construction project themselves. [...]
Posted in Forex Master | Tagged a, big, builder, common, construction, losing, mistake, of, owner, picture, sight, the
By admin on 13/02/2010
Owner Builder construction is a great way to build instant equity into your new home by eliminating the costs of a general contractor. In fact, cutting the overhead of a licensed general contractor can save an owner builder anywhere from ten to thirty percent on construction costs. That’s tens of thousands of dollars in instant [...]
Posted in Forex Master | Tagged builder, construction, imperatives, loans, owner, the, three
By admin on 30/01/2010
The loan process you follow when searching for a construction loan has some similarities to that of obtaining a regular mortgage. You will still be judged on your income, credit, savings and monthly debts just like a regular mortgage.
However, with a construction to permanent loan, there are a few additional factors that lenders consider. Since [...]
Posted in Forex Master | Tagged about, construction, how, know, loans, need, really, to, what, work, you
By admin on 13/10/2009
If you want a mortgage, you need a real estate appraisal. If you want to be an owner builder and need a construction loan, you will need two appraisals wrapped into one. An owner builder construction loan will require an appraisal prior to construction and one follow-up appraisal upon completion. Knowing the details [...]
Posted in Forex Master | Tagged a, an, appraisals, builder, construction, details, for, know, loan, multiple, needs, owner, the, to
