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Explaining Construction Loan Special Verbiage “Change Orders,” “Inspections,” “Contingency Fund”
Your mortgage advisor serves as an indispensable asset in comprehending the intricacies inherent in construction loans, including specialized terms such as Change Orders, Inspections, and Contingency Funds. We will explain these terms here, but your advisor can go into more
When to Build with a Construction Loan and When to Buy with A Mortgage?
When it comes to acquiring property, individuals often face the dilemma of whether to build using a construction loan or to buy with a mortgage. Both options offer distinct advantages and considerations that can influence decision-making. Understanding the differences between
Understanding the Draw Process of a Construction Loan
The draw process for a construction loan involves a detailed mechanism for managing funds throughout the construction phase of a property. Here are some additional points to consider: Initial Approval: Before construction begins, the lender approves the borrower for a
Construction Loans vs. Investor Renovation Loan Options
There is a noticeable difference between construction loans and investor renovation loan options, although both serve the purpose of financing property improvements. Here's a breakdown of each: Construction Loans: Construction loans are designed to finance the construction of a new
Understanding the Differences Between Construction Loans and Mortgages
Construction loans and mortgages are two important tools in the world of real estate financing. They each have specific purposes and come with their own set of rules and requirements. These differences cater to various needs when it comes to
Discover the Hottest Home Construction Trends of 2024
Today we examine the exciting world of home construction trends for 2024. As the housing industry continues to evolve, homeowners and builders alike are embracing innovative designs, sustainable practices, and cutting-edge technologies to create homes that are both stylish and