Articles, Updates, and Guidelines

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 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.

July 19, 2022What should you know about interest rates before committing to a construction loan? If you want to build your home from the ground up, chances are good that you're prepared for or are getting ready for the extra costs. Chances are also good you would love a way to reduce the overall cost.

July 10, 2022It is true that building a home from scratch can at times be harder than buying an existing home, the effort is worth it. The key to getting started is to understand the requirements of these loans, but some are hesitant because the process is unfamiliar to them.