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interest rates: 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 most cases)
A one-time-close construction loan modifies to a permanent mortgage when the home is finished. So, you can finance the initial purchase of the land plus the cost of building your new home.  You pay just one set of closing costs and you are only approved once!
Rate and terms can … (0 comments)

interest rates: Is it wise to mix friends and business? - 10/03/07 05:30 PM
Hello, here is the first blog from another new member of Active Rain!
I have been in the mortgage industry since 2003 and I am a Loan Coordinator for our construction loan division at Community First Financial.  Whenever the opportunity arises, I like to originate my own loans as well.
So I thought that I would write my first blog about something I have been wrestling with in my mind quite a bit lately:
Is it worth it to handle your friends and family's loans?
On the one hand, I love being able to help my friends and family.  I know that they will … (0 comments)

 

Katie Marchione ~ Community First Financial

Scottsdale, AZ

More about me…

Community First Financial

Address: 7575 E. Redfield Rd. Suite 235, Scottsdale, AZ, 85260

Office Phone: (480) 305-8900 x 315

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