Credit And Construction Loans

Credit plays a major role in building your new home.  Before applying for a construction loan it’s important to understand the credit requirements.  Learn more about credit and constructin loans.

PMI Insurance Tax Deductible In 2007, PMI Calculator

Get the facts on the new PMI Tax Deduction for 2007.  100% deduction for some homeowners.

Stated Income Construction Loans and Subprime

With the recent meltdown in the subprime market, stated income loans are becoming tougher to place.  Publicly traded banks are having to answer to investors by curtailing risk and losses.  What will this mean for construction loans? 

Construction loans, how they work

Construction loans come in many shapes and sizes. Understanding how a construction loan works is your first step to understanding how to select the right construction loan for your project.

Construction Loan Insurance Requirements

Insurance policies for the owner builder are typically one of the last items needed before closing on a construction loan. The reason for the last minute purchase is that insurance providers sometimes will ask for payment up front. It doesn’t make much sense to purchase a policy before the loan is approved. Just because it is last in the process doesn’t mean it lacks importance. In fact it should be one of your primary focuses early in the process as it protects the owner from liability and losses. 

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