Articles, Updates, and Guidelines

August 11, 2022What should you be looking for when comparing construction loan lenders? There are important areas to consider including some obvious basics like who offers the lowest interest rate and terms. But there are also some not-so-obvious issues to pay attention to, as we’ll explore below.

August 9, 2022What kind of credit mistakes can make it harder for your lender to approve an application for a One-Time Close construction loan? The kinds of credit mistakes we mean here are those that can cause your credit score to drop, which is something you do NOT want happening ahead of an important loan application.

August 4, 2022Who is right for a construction loan? If you want to build your dream home on your own lot, a One-Time Close construction loan is a smart choice, but not everyone is right for this type of mortgage. Why?

August 2, 2022What is the difference between a one-time close construction loan and a rehabilitation loan like the Fannie Mae Homestyle Loan, or an FHA 203(k)?  These loans feature a single application and loan closing date, both allow the payment of loan funds from escrow to contractors, and participating lenders may require the borrower to typically credit-qualify with FICO scores typically in the mid-600s for either type of mortgage in order to secure the best rates and terms.

July 27, 2022There is a mortgage loan option that lets you build a house from the ground up on land you own or purchase in conjunction with the loan. The One-Time Close loan is the mortgage you want to ask the lender for to build a home from the ground up instead of buying someone else’s dream home.

July 21, 2022What factors affect One-Time Close loan approval? A construction loan can be harder to qualify for than other types of home loans and you’ll want to give yourself the best shot at loan approval you can right from the start.