If you are planning to finance your Madison home or any home for that matter and you want to know a little more (or a whole lot more) about what to expect, then this primer may help you out. Find out the difference between a Pre-Qual letter and a Pre-Approval letter and how both are quite different than a Commitment Letter…the thing that can remove your financing contingency. Understanding what these things are and what they mean to you, your bank or credit union and your seller is a good first step. Questions? Read on…
Finding a good mortgage program can be a little tricky but the best place to start is talking to lenders. Don’t pay any attention to the rumors: get your information directly from the people who have the answers. Keep an open mind and be ready to explore options like FHA, VA and Madison’s WHEDA program for first time home buyers.
What's all the Hubbub about Madison Prices? There has been a lot of buzz lately about the Case-Shiller report that drew attention to a “double-dip” in US Home prices, but just like politics, all real estate is local. Madison prices are affected to a much greater extent by the local market than they are by […]
If you already own a home, you can reduce the potential cash-flow pinch by selling your existing home before you start building your WI new construction. This allows you to put the entire equity of your existing home against the price of your WI new construction project. It also reduces the chance (or length of […]
WI new construction loans are products sold through financial institutions like credit unions, building and loan companies and most banks. WI new construction is good business for lenders so they have created a variety of construction loan programs designed to take the hassle out of securing funding to build WI new construction. Moreover, they compete […]
Before you can build your WI new construction home you’ll need to secure your lot. Sometimes WI new construction custom builders own lots in very desirable locations of WI properties that they can sell you, or you can provide the lot for your WI new construction yourself — ala carte. If you have a specific […]
Once you are pre-approved for WI new construction financing, you need to decide what kind of WI new construction builder you want to work with. Do you want to work with a Madison area semi-custom new construction developer like Veridian Homes, or you want to go the whole ala carte route of buying a lot […]
Like any other home purchasing process, WI new construction begins at the bank with getting pre-approved. Let me explain why this is so important: There was a day when getting a mortgage was the least worrisome part of WI new construction. But, as credit tightened and the bar for approval was raised by several notches, […]