Golden State Construction Loans » construction loan

How do I get a new construction loan?

admin — Sun, 25 Jul 2010 18:12:23 +0000

how hard is it to get a new construction loan compared to a regular home loan?. I am a first time home buyer and I am thinking about building. How do the interest rates and other things compare? what are the pros and cons? Thanks.

You need to own the land flat out and have 25% down.

Since you only pay interest on the amount you have already spent during construction and the interest rate is low this is a lot cheaper.

HOWEVER, you have a dead line to finish building and you have to meet it. If you don’t the fines are astronomical. You not only have to finish building, but refinance to a conventional loan. A lot of people screw up and can’t qualify and loose their new house at this point, because if you do not refi that it is, the construction loan bank comes in and forecloses.

MOBILE HOME LOAN BAD CREDIT

admin — Sun, 25 Jul 2010 02:08:14 +0000

http://badcreditmortgage-loan.com mobile home loan bad credit http://www.youtube.com/watch?v=yv6aK3MkKbg solution are hard money also get instant access to fast results of mortgage loans for people with bad credit with 6 lenders providing instant quotes for those who are looking for bad credit refinancing loans or bad credit business loans funded by private investors on any real estate property with equity.
http://www.hardmoneyloop.com Income and credit can be secondary consideration to non owner occupied and especially on commercial and business loans at http://www.mortgagecalculator-loan.com provide results for borrowers seeking bad credit fha loans. Hard Money Loans are collateral-based real estate loans made by private investors instead of banks. They can be funded by private individuals known as PRIVATE HARD MONEY LENDERS or PRIVATE HARD MONEY INVESTORS, trusts, partnerships, real estate investment groups and retirement funds… Hard Money Loan is actually a very simple concept. It is the provision of an actual cash loan made to a borrower by a PRIVATE HARD MONEY LENDERS.
Hard Money Loans are funded for business and personal use. The real estate asset may be business or personal property, and the proceeds of Hard Money Loans are not restricted to business use.
Creative lending solutions are needed for borrower’s who have low credit scores, low income, no cash flow or are in need of a quick closing! Hard Money Loan can finance single family, commercial property – HARD MONEY COMMERCIAL LOANS, unimproved & improved property of all types – HARD MONEY construction loans including land purchases, developer lots or raw land – HARD MONEY LAND LOANS.
The Hard Money Loan is a private loan which does not require the same guidelines as other loan types.
For this reason, the Hard Money Loan is often asked by people who:
Have a history of bad credit.
Have no credit.
Have previously had a home foreclosure.
Have unverifiable income.
Must refinance immediately.
Trying to finish a construction loan.
Currently behind on your mortgage payments.
Currently facing foreclosure or have a notice of default filed against you.
Need a mortgage loan immediately and are willing to pay more to have it close quickly.
Private investors in Ohio, Florida, New York, Texas, Arizona, California and all 50 states Residential or commercial loans constructions loans and even land loans at http://www.lendinguniverse.com/fast_commercial_hard_money_loans.htm for borrowers looking for mobile home loan bad credit and or loans for people with bad credit.

Duration : 0:0:15

Technorati Tags: Bad credit mortgage, hard money, lending, loans for bad credit, private investors, real estate

My father owns property However, me and my father have jointly taken a loan for construction can I avail tax?

admin — Fri, 23 Jul 2010 02:01:18 +0000

The property is owned by my father , the construction loan is taken both by my father and me. Can I avail tax benefits?
Thanks

No. You can claim tax benefits on the loan if the property is in your name.

Mitchell Homes – Virginia Custom Builder

admin — Thu, 22 Jul 2010 03:53:08 +0000

Mitchell Homes will custom build your dream home on your lot in more than 65 counties and cities throughout the Commonwealth of Virginia. You can choose from more than 30 fully customizable floor plans that we currently offer, or bring us your own custom plan to build.

Whether youre a first-time homebuyer, looking to upsize for your growing family, or ready to build that luxury dream home that youve always desired, Mitchell Homes has the experience, quality of construction, and outstanding reputation that should make us your home builder of choice. Mitchell Homes has built more than 2,000 homes throughout Virginia over the past 17 years!

Best of all, when you choose Mitchell Homes as your new home contractor, you wont have to obtain a costly construction loan, you pay no down payment, and we will pay your closing costs! We pride ourselves on being the best at what we do, and wed love to have the opportunity to prove it to you.

Duration : 0:0:40

Technorati Tags: build on my land, build on your lot, no closing costs, no construction loan, no down payment, VA Custom Builder, Virginia Custom Builder

Do I put money down on a construction loan or when I get a regular loan or both?

admin — Tue, 20 Jul 2010 10:30:13 +0000

We are getting ready to get a construction loan but we need to know if we put money down on just the loan or when we get the regular loan?
First of all. To all the meanies out there. I’m not getting the loan tomorrow. I think that this is a fair question. When I say we are getting ready it means we have land and that we are collecting data to get a construction.
So kiss my ….

the mortgage company i used to work for has a 10% (of the value of the land and structure combined) minimum down payment from borrowers needing a contruction to permanent loan. if you already own the land free and clear the value of that parcel will be considered in the 10%. but if the builder is financing the construction, the regular down payment guidelines will apply.

BAD CREDIT FHA LOANS

admin — Mon, 19 Jul 2010 13:35:59 +0000

http://badcreditmortgage-loan.com bad credit fha loans http://www.youtube.com/watch?v=yv6aK3MkKbg solution are hard money also get instant access to fast results of home loans for people with bad credit with 6 lenders providing instant quotes for those who are looking for bad credit home mortgage loans or bad credit loans funded by private investors on any real estate property with equity.
http://www.lendinguniverse.com/fast_commercial_hard_money_loans.htm Income and credit can be secondary consideration to non owner occupied and especially on commercial and business loans at http://www.hardmoneyloop.com provide results for borrowers seeking small business loans bad credit. Hard Money Loans are collateral-based real estate loans made by private investors instead of banks. They can be funded by private individuals known as PRIVATE HARD MONEY LENDERS or PRIVATE HARD MONEY INVESTORS, trusts, partnerships, real estate investment groups and retirement funds… Hard Money Loan is actually a very simple concept. It is the provision of an actual cash loan made to a borrower by a PRIVATE HARD MONEY LENDERS.
Hard Money Loans are funded for business and personal use. The real estate asset may be business or personal property, and the proceeds of Hard Money Loans are not restricted to business use.
Creative lending solutions are needed for borrower’s who have low credit scores, low income, no cash flow or are in need of a quick closing! Hard Money Loan can finance single family, commercial property – HARD MONEY COMMERCIAL LOANS, unimproved & improved property of all types – HARD MONEY construction loans including land purchases, developer lots or raw land – HARD MONEY LAND LOANS.
The Hard Money Loan is a private loan which does not require the same guidelines as other loan types.
For this reason, the Hard Money Loan is often asked by people who:
Have a history of bad credit.
Have no credit.
Have previously had a home foreclosure.
Have unverifiable income.
Must refinance immediately.
Trying to finish a construction loan.
Currently behind on your mortgage payments.
Currently facing foreclosure or have a notice of default filed against you.
Need a mortgage loan immediately and are willing to pay more to have it close quickly.
Hard money lending in California, Florida, New York, Texas, Arizona and all 50 states Residential or commercial loans constructions loans and even land loans at http://www.mortgagecalculator-loan.com for borrowers looking for bad credit fha loans and or short term bad credit loan.

Duration : 0:0:16

Technorati Tags: BAD CREDIT FHA LOANS, Bad credit mortgage, hard money, lending, loans for bad credit, private investors, real estate

what will I need to get a construction loan?

admin — Sat, 17 Jul 2010 10:18:12 +0000

I own the land, asessed at $150,000. I have a upper 600 credit score, no debt and make $80,000 a year. I have around $50k in the bank. Will I qualify for a new home construction loan?

You should, but only 200k. You need to give them 25% down upfront, and with only 50k you are rather limited. You need to present them with your complete plans and general building permits as well, they will not give you a loan until you are ready to go. You have about 9 months to get it all done.

Tampa Construction Loan Help

admin — Fri, 16 Jul 2010 17:57:10 +0000

Debbie and Neel Miller share their experience with us. Their brand new home has just been built, they are so happy.

Duration : 0:2:29

Technorati Tags: build, construction, help, home, homes, loan, new, Tampa

in a construction loan does the buyer and the general contractor?

admin — Wed, 14 Jul 2010 10:20:14 +0000

have to sign on all draws? Does the buyer have rights to know for what and how much material,Etc, costs on an ongoing basis thru the whole process.
My brother in law is the contractor and is taking draws out and we haven’t approved anything and how could the bank approve it without our signature? In law says the doesn’t have to show him receipts since we signed a contract with him..
I just found out on internet that there is a construction loan sworn statement for. We never heard of this and know that we didn’t sign one. Should we have gotten one? Could he possibly not be a licensed contractor. Sure would appreciate some input.

The buyer usually doesn’t need to sign off on subcontracts. That’s why you get a contractor, so you don’t have to worry about these things.

But if you think he’s not licensed, you should call up the appropriate authority in your state and find out.

Home Loans & Equity Advice : How to Obtain a Construction Loan to Build Your Dream Home

admin — Tue, 13 Jul 2010 21:31:06 +0000

Obtaining a construction loan for a dream home involves going to a bank or credit union and filling out any necessary paperwork. Find a construction loan by searching online with tips from a licensed mortgage broker in this free video on home loans and equity.

Expert: Adriel Torres
Contact: ultimatecredittoday.com
Bio: Adriel Torres has been in the mortgage business for over a decade. He has owned two mortgage companies and is a licensed mortgage broker.
Filmmaker: Christopher Rokosz

Duration : 0:1:14

Technorati Tags: equity, finance, home loans, loans, money