It is more complicated to get a construction loan than other mortgage processes.  Here are the most common questions and answers on construction finances: 1) How much is the interest rate and service charges? Interest rates and services charges vary from one lender to another. They will likely require a minimum 1-2% service charge if […]

Do you need a construction loan for your new home? Getting a construction mortgage is not as easy as a personal loan. You need a lot of patience to navigate through the process of finding the right builder and obtaining a construction loan. Here is a step-by-step guide for a construction mortgage. 1)  Finding the […]

Are you constructing your own home, garage, workshop, or any other structure? It is great because you can get exactly what you want. You get to decide about design, quality, budget, and more. However, one of the many decisions you’ll need to make is how to pay back the construction loan after the building is […]

What Draw/Progress-draw Mortgage The Draw/Progress-draw mortgage is one of the construction loans which allows the builder to draw money during the building process. The loan is distributed in installments or according to the stages of the build. The foundation part which is the first part of the loan will be given at the beginning of […]

How and where can you find financing for home renovations? Well, there are a lot of options like home renovation centers such as Home Depot or IKEA. Even though these companies offer great products, they can’t match a financial institution’s lending rates. Borrowing from unconventional sources like this means higher annual interest rates and monthly […]

It is a financial strain when you buy a home with a huge down payment. This might lead to problems if you forget the cash you will need for closing. Closing Costs When Purchasing A Home Everyone looking to buy a home wonders what the average closing costs will be. It is natural to wonder, […]

Congratulations if you currently find yourself in the enviable position of looking to buy a second property. The equity that you stand to gain from this purchase can be considerable. Remember to plan properly to maximize your gain. Deciding what the second home will be utilized for is the first step in this process. Is […]

The process of preparing it for sale is one of the biggest problems people run into when selling their home. Most homes are simply places where we keep accumulated treasures over the years. Are you a clutter-bug, a hoarder? That’s fine, we all are to some degree. We need to be mindful of our “stuff” […]

Approximately 30 percent of homeowners intend to sell without a real estate agent, a recent survey revealed. iIf they didn’t fear the contract side of the process, I bet more would. Contracts When Selling Your Home Without An Agent It is undeniable that you can save a lot by selling your home without an agent. […]