Real estate blog entries tagged with construction loans by Katie Marchione ~ Community First Financial (Community First Financial)

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construction loans: Basics of Construction Loans - 03/27/08 01:29 PM

How do Construction Loans Work?
A construction loan finances the following:
•1.     The land
•2.     Land improvements -i.e. clearing, grading, utilities, etc.
•3.     Actual construction costs
•4.     Finishes to the home - i.e. carpet, appliances, tile, etc.
•5.     Architect or engineering fees
•6.     Permits
•7.     Interest Reserve account to pay your mortgage during construction
•8.     Closing costs (in … (0 comments)

construction loans: 2008 is the time to BUILD - 02/07/08 03:38 PM

Why you should BUILD in 2008
If you are one of the many people out there who are struggling to make the payment on your vacant lot, listen up! Obviously the market has slowed down, and lots especially aren't selling very quickly.
Have you ever considered building a house on that lot?
Or … (2 comments)

construction loans: Zero Down Construction Loan Information - 11/06/07 05:48 PM

ZERO DOWN! Custom Home Construction Loan & Financing
Community First Financial is excited to offer our no money down* construction loan program. This program is designed for primary and 2nd home buyers who want to put limited funds into their custom home project. This program also allows the borrower to use … (2 comments)

construction loans: Construction to Permanent vs. Construction Only - 10/30/07 06:04 PM

What is the difference between "Construction-to-Permanent" and "Construction Only" loan programs?
A C/P or Construction-to-Permanent, also called "One Time Close" is a type of construction loan that rolls directly into your permanent financing once your home has received its Certificate of Occupancy. Typically, the borrower qualifies for the loan to the … (4 comments)

construction loans: Construction Loans 101 - 10/30/07 05:56 PM

What are the reasons people buy resale homes over building thier own custom home?
Tangible product. They can see, smell, and touch the new home they wish to buy. Time line. Most resale homes are available with in 45-60 days. Inventory. Easier to find an existing home rather than a vacant lot. Variables. Building requires: Realtor, land, … (0 comments)

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