Articles tagged: "construction financing"
1: Building a Home? You'll Need to Know Your Insurance Requirements
When building a new home, you will need insurance to protect yourself while the home is under construction. If you're hiring a general contractor, he should have insurance in place to cover the bulk of the requirements. However, if you are going to be an owner builder and oversee the construction yourself, you will need to get your own insurance coverage to protect the home and yourself.
2: Ten Common Mistakes to Avoid with Your Credit
How many of these ten common credit mistakes do you make? How many of them are currently keeping your credit score lower than it should be? Knowing the answers to these questions could boost your credit score and provide opportunities for better financing terms.
3: Today 's Credit Scoring Basics and the Effects on Construction Financing
At one time, not too long ago, there was no such thing as a numeric credit score. Your credit report either showed that you paid on time or you didn't, and that was that. But, times have changed. Today, it 's more vital than ever to understand the basics of the FICO credit scoring system and how it will affect your qualifications for construction financing.
4: The Construction Loan Timeline and the Number One Mistake Most People Make
The number one mistake, hands down, that people make when building a new home is not allowing enough time to get through the process. Building a custom home, and obtaining a loan to do so, is not as simple as getting a mortgage to buy an existing home. You CANNOT do it all in 30 days. So, before you sign a contract to buy a piece of land, take a moment to learn how to avoid potential disaster.
5: The Construction Appraisal - What You Need to Know Before Your Loan Gets Denied
If you are building a new home, the appraisal is just as important to your construction loan qualification as your income or credit scores - maybe even more important. If you don't understand the appraisal process for a construction loan, you run the very real risk of wasting a lot of time and money.
6: What is an Owner-Builder, Really?
You've probably already heard the term owner-builder if you've been involved in residential construction in any way. But, there is a lot of misinformation out there about owner-builders. Before deciding if it 's right for you, step back a moment and get a firm grasp of what an owner-builder really does.
