The Basics of Simple Construction Financing

Saying that building a home starts with finding the right location and ends with moving in is quite simplistic. The truth is that in between finding the location and finishing the home, a lot of underlying processes take up much time, money, and energy. Educating yourself on the things that you need to know – [...]

Construction Loans and How They Work

Construction to Perm (CTP) Mortgages, One-Time Close
Construction to perm loans are essentially 3 loans in one, land loan, construction loan and permanent loan in one transaction. These loans have obvious advantages in that you don’t have to close three times saving you time and closing costs. At closing you purchase your land and extended a [...]

Construction Loan Insurance Requirements

Discover Building recommends owner builders consult with insurance professionals in detail to make certain they are properly covered before construction begins. It is extremely important to check all local and state laws concerning insurance requirements and to ensure compliance.
When searching for insurance the owner builder may find it difficult to locate insurers to cover their [...]

Stated Income Construction Loans and Subprime

A recent article in the Sacramento Business Journal sums up the general consensus in the mortgage business about how risky loans will be handled in the future. While the article focuses on WAMU, the article could be about any publicly traded bank in the country and still hold true.
“The Seattle-based company lost $113 million on [...]