Atwood Custom Homes

02

This is the post summary

June

2017

25

After determining the best loan program for your needs, your loan officer will draw up a one page document that lists all of the costs associated with the loan.  This document is called a Good Faith Estimate.  The estimate lists all the charges you as a homebuyer will have to pay at the time of closing.  Don't be surprised if some fees are slightly higher or lower when you finally come to closing.  Each lending institution has slightly different charges, which is why the document you are

May

2017

18

Many new homebuyers feel confused about all the options they have when it comes to loans.  Which one is best: fixed, adjustable, or interest-only?  A mortgage loan officer should be able to explain the benefits of each in detail.  But here's a brief overview to get you started.  Let's begin by looking at the advantages and disadvantages of the three most common types of loans.      A fixed-rate loan has an unchanging rate for the life of the loan ( 15, 20, 30, or even 40 years).  Your

May

2017

08

Once you've been approved to receive a new loan to build your custom home, the next step is to determine the best loan for your needs.  There are a variety of loans to choose from, each with their own set of rules and terms.  Your loan officer can walk you through all of the options and help you choose the right one.      If you're building a custom home, you'll want to consider a "Construction-Permanent" loan.  A Construction-Permanent ( or construction-Perm) loan has two phases:  the

May

2017

01

When it comes to paying for your custom built home, do you know where to find your financing?  Many don't.  Should you peruse the Sunday papers looking for the best deal or stop by your neighborhood bank to see their rates?  Do you need a mortgage lender or a mortgage broker?  When it comes to finding the right home financing plan, it's really all about dollars and sense.      First, let's define the difference between a mortgage lender and a mortgage broker.  Most mortgage lenders can be

May

2017