Home Renovation Loans Vs. Home Construction Loans For Consumers

All About The Renovation And Construction Loan Process

June 21, 2022 by Jim Potts

Are you thinking about getting a construction or renovation loan but aren’t sure what the process entails? In this video, I’m going to walk you through the steps it takes to get financing for one of these programs. We’ll look at everything from choosing your property to closing so you know exactly what to expect.

How To Qualify

Qualifying for a construction or renovation loan is much like a regular loan, though the process is a little different. The key to getting one of these loans approved is both the structure and the numbers. read more

What’s Ahead For Mortgage Rates This Week – June 21, 2022

June 21, 2022 by Jim Potts

Last week's economic news included reporting on home builder confidence in national and regional housing markets, a post-meeting statement from the Federal Reserve's Federal Open Market Committee, and Fed Chair Jerome Powell's news conference. The National Association of Home Builders released its national and regional housing market indices. Weekly readings on mortgage rates and jobless claims were also published.

Updating Your Home: The Top Options

June 17, 2022 by Jim Potts

If you want to improve your quality of life while also increasing the value of your home, you might be interested in updating it. You probably want to live in a home that is well-designed, and a prospective buyer wants the same thing.

The Different Renovation & Construction Loan Types

June 16, 2022 by Jim Potts

Are you thinking about getting a construction or renovation loan but aren’t sure which one is best for you? In this video, I’m going to walk you through the different loan programs available for both construction and renovation loans. We’ll look at the qualifications and details of each type so you can choose the right option for your situation.

Your Financing Strategy

It’s important to choose the right loan because your financing strategy makes all the difference in the world. There are a few questions you’re going to need to answer before we can go to the next step. read more

3 Reasons You Should Trust in a Mortgage Advisor Instead of Trying to Predict Rates

June 16, 2022 by Jim Potts

If the time has come to purchase a home and you've been perusing the real estate market, it's possible you've also been considering the mortgage options that might work best for you. In the event that you're already spending a lot of time looking at homes and trying to sell your own, here are a few reasons you may want to leave your mortgage considerations to a professional.

Get Your Mortgage Paid Down Faster With These 5 Simple Money Saving Strategies

June 15, 2022 by Jim Potts

The monthly mortgage payment can be burdensome for many, but it's possible you've thought of trying to pay it down more quickly. Without getting a new job or working overtime, here are some tips you can use on a daily basis to save additional funds and pay off your mortgage at a swifter rate.

What Are The Advantages Of Owning A Multifamily Property?

June 14, 2022 by Jim Potts

It is important for everyone to diversify their investments. One of the ways to do so is to invest in real estate. There are numerous types of properties, and one of the most attractive options is a multifamily property. Even though it might seem like a challenge to manage such a large property, there are several benefits of multifamily properties everyone should keep in mind.

Using A Renovation Loan: A Case Study

June 13, 2022 by Jim Potts

How would you buy a property that needs a new roof and additional work if the seller is unwilling to fix it? In this video, I’m going to share the case study of a borrower that was trying to buy a house through the FHA program—but got denied because of the property condition. I’ll explain how our innovative solution was able to get the borrowers the home they really wanted.

An Appraisal Denied

Although the borrower wanted this house, it needed some work. Anytime you’re trying to do FHA financing, they’re a little pickier on the condition of the property. In this case, we had a leaky roof and flaky paint, and it wouldn’t pass the appraisal. read more