Monthly Archives: April 2013

Construction Budgets and Banks –
What Sould You Know Before Getting Your Loan?

How Do Construction Budgets and
Banks Work Together?

Construction Budgets & Bank Loans
Helpful Tips to Understand

Today many custom home buyers and banks are using a “one-time close” process. Using this process the borrower obtains permanent loan approval and closes the interim construction and permanent mortgage loan prior to the commencement or beginning of construction. This allows the buyer to only need to qualify one time, at the beginning of the process. The amount is based on the proposed construction budgets and a bank’s approval of that total loan amount for the buyer.

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The Importance of Lien Releases When Building a Custom Home

What are Lien Releases and What’s the Big Deal?

A Mechanic’s Lien is a claim on a property to ensure repayment of debt.  When a subcontractor furnishes a material or product for construction, the supplier of that material can file a lien on the owner’s property.  Lien releases are notarized and signed by the supplier of the material, ensuring that the subcontractor has paid for the material in full and the supplier cannot file a lien against your property.

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