CATEGORY: financing

    asking questions

    Construction loans: Two key questions to ask bankers

    Every business needs a sales force, as they are the ones who find the clients. Without clients, we all know what happens to a business. At a bank, the sales person is called a loan officer, and it's their job is to drum up business for the bank.
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    house plans-2

    Building on your land: Committing to a builder before you know all the details

    When you're building on your land, you want to find the right builder for you. And in most cases, builders require a deposit before they'll even quote you a price. That's because giving you a price on a custom home requires a fair bit of work.
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    loan approval meeting

    Construction loan: Revealing your private financial details to a complete stranger

    To build a custom home, you start with a construction loan. First you need to pick a bank that has experience in construction loans. You may have a favorite bank, but if they don't have a lot of experience with construction loans, we highly recommend finding one that does. It's not as straightforward as a conventional mortgage loan, and you...
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    Spray foam insulation

    Construction Loan Appraisal - Why don’t I get credit for things like spray foam insulation?

    In our years of building custom homes on our clients' land, we've seen it all in terms of additional features that clients want in their home. After all, that's one of the key reasons to build a custom home—you get exactly what you want. From spray foam insulation for energy efficiency to wrap-around porches to outdoor kitchens, you can make...
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    Appraising houses

    Construction loans - How location will affect appraised value

    If you've ever researched the real estate market or purchased a house, you're probably familiar with the three things most important in real estate: location, location, location. Location affects the price of homes, the number of homes available, and how quickly they sell.
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    Construction Loans: How much will my payment be each month?

    A great question most of my clients ask is, "How much will my monthly construction loan payment be?" They're trying to determine if they can afford to make that payment along with their regular house payment, whether that's a mortgage or rent payment.
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    Construction loans - why does it take so long to get approved?

    The construction loan process is often one of the most challenging aspects of building a home on your land. It can be a frustrating process, but understanding why it takes so long can help ease some of the frustration. Here are two main reasons it takes so long to get approved for a construction loan.
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    Construction loan definitions - loan to value versus loan to cost

    Getting a construction loan to build a house on your land might be the most intimidating part of building. And it's certainly one of the most confusing. Some lenders love to use industry jargon, which makes it even worse. I've been in the building industry for 18 years, and I still hear terms I hadn't heard before.
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    Construction Loans: How do I pay for a custom home?

    Paying for a house that's being built on your land is very different from buying a new house from a builder, or even buying a custom home on the lot a builder owns. To build a custom home on your land, you'll need a construction loan. This article talks about the basics of paying for a custom home built on your land or lot.
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    Sold sign on land.jpg

    House to Sell: Don't let it stop you from building your dream home.

    Everybody lives somewhere. If you own a house and need to sell it before you can build your new, dream, forever home on your land, don't let selling that house stop you from moving forward. Here are some tips and tricks I've seen that work for getting your old house sold so you can move on to making your dream happen.
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