Getting A Home Mortgage Through Virtual Lending

There are many people who are looking to buy a home during the COVID-19 pandemic; however, given the public health crisis that the pandemic has created, some potential homeowners are finding it difficult to go about buying a home in the traditional manner. As a result, banks and credit unions have woken up to a major shift in society as they have had to catch up to the digital age.

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How Much House Is Too Much House: A Mortgage Calculation Guide

When it comes to finding a home, this is an exciting time. Many people love looking at houses; however, the reality is that people also need to think carefully about how much house they can actually afford. Buying a home is a big decision and for many people, this is going to be the most expensive purchase they ever make in their lives. Therefore, it is important to take the time to get this decision right. There are plenty of ways for people to calculate how much house they can actually afford. With a budget in mind, this will make the shopping process easier.

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Taking A Closer Look At Home Improvement In 2020

When it comes to home improvement in 2020, many people are spending more time in their homes than they ever have in the past. With kids attending school from home and people working from home, many homeowners are looking at ways to potentially improve the qualities of their homes through home improvement projects.

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Should Homeowners Refinance?

Most people have heard the saying that it might be a good idea to refinance if mortgage rates drop. For those who might not know, refinancing is essentially taking out a new loan to replace the old one because the new loan has a lower interest rate.

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Case-Shiller: Home Price Growth Rate Increases in July

Home price growth fueled by high demand for single-family homes was higher in July according to Case-Shiller’s National Home Price Index. Analysts said that millennials seeking to purchase homes and the continued exodus from large urban areas propelled rising home prices. Home prices grew fastest in the West and Southeastern regions.

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Shopping For Home Improvement Supplies Safely

The coronavirus pandemic has impacted everyone and everyone is trying to go about their lives in a safe manner. With so many people spending time at home, now is the perfect time to conduct home improvement projects. At the same time, carrying out a home improvement project is going to require supplies. While many people are trying to avoid going to the store to buy supplies right now, there are also no contact ways to shop for home improvement supplies. Take a look at the tips below and collect supplies for the home improvement project in a safe way.

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By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.



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Mortgage Archives | Page 32 of 37 | Ed Currie Construction Loans
*indicates required.
Down payment:
Loan amount:
Term:
Initial interest only payment:
Final interest only payment:
Principal and interest payment:
**FIG_GRAPHTITLE** Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Definitions

Do you own the property?

Please let us know if you already own the property.

Amount your owe on home

If you own the property and this is a refinance, please enter the amount you owe on your home.

Price of property/land

If you don't own the property (or land) please enter the price you will pay to purchase it.

Cost of construction project

Please enter the cost of the construction project you are planning.

Value of home when complete

Enter the expected appraised value of the home when your construction is complete.

Down payment

This is the calculated required down payment to receive the loan.

Loan amount

This is the calculated loan amount for your project.

Interest rate

enter the expected interest rate for your loan.

Length of project (months)

Number of months you expect your construction project to take to complete.

Initial interest only payment

The initial interest only payment is calculated as an interest only payment of the maximum loan minus the cost of construction.

Final interest only payment

The final interest only payment during construction is calculated as an interest only payment for the maximum loan amount.

Principal and interest payment

The principal and interest payment for the remainder of the 30 year term of the loan.