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The Loan Process for Financing New Home Construction

The Loan Process for Financing New Home Construction

Financing new home construction is more detailed than any other type of loan. Banks are less willing to hand out these loans to just any borrower because they hold such an element of risk. If you do not have an adequate credit history or have any other factors that...

Which Loan Should You Use as a First-Time Homebuyer?

Which Loan Should You Use as a First-Time Homebuyer?

Have you heard that the FHA loan is the best first-time homebuyer’s loan? In fact, it’s been known as only a first-time homebuyer’s loan for many years. That’s not the case, though. First-time homebuyers can use any type of financing that is available in today’s...

What’s the Cost of a VA Loan Refinance?

What’s the Cost of a VA Loan Refinance?

If you have a VA loan and you want to refinance it, you have a few options. If you want to stick with a VA loan, you can refinance with the VA IRRRL (streamline refinance program) or the VA cash-out program. The VA cash-out loan allows you to take money out of the...

What is the Required Documentation for a Construction Loan?

What is the Required Documentation for a Construction Loan?

When you are in the market for a construction loan, you have to present a lucrative package to the lender in order for him to want to approve you for the loan. This is not an easy task as lenders are very choosy about who they provide construction financing to because...

What Happens After You’re Preapproved?

What Happens After You’re Preapproved?

Before you shop for a home, it’s a great idea to get pre-approved. This lets sellers and realtors know that you are serious about buying a home. It also lets them know that you can get the financing you need to buy it. Without this letter, some sellers may not...