Get Ready for SPRING Building!

The ripple effect.
In late 2007 we saw the subprime mortgage market (less than perfect credit and stated income etc) all but disappear…
–>causing the housing market inventory to rise
—>and halting new housing starts.
This in turn caused the following to happen in some areas:
Residential builders switching to the commercial sector;
Drastic cuts in home sale prices in order to move inventory;
Less demand on building costs
How does this affect YOU- the owner-builder?
While different areas of the country may experience different local challenges, I believe that NOW is a great time to move forward with your construction project!
Many subcontractors are itching for work –> lower labor costs for you!
Falling land prices –> we are in the TROUGH!
Building Material demand down –> softening demand means lower prices!*
Mortgage rates are at their lowest since the summer of 2005; Fixed Rate mortgages are averaging at 5.69%!
The National Association of Home Builders (NAHB) expect housing starts to start upward the third quarter of the year. Wouldn’t it benefit you to start now prior to local subs becoming busy again?
We have the lender programs available now to get you started; lock in with your construction-perm program now!   Note that under the one-time construction loan, you are obtaining two loans- the 12 month construction loan that modifies into a permanent 30 year mortgage.   You are qualified once, pay fees once, and you are guaranteed the final loan once you start your construction!
The process to obtain a construction-perm loan takes approximately 45 days.  The steps are:
1. Determine your program parameters; what are you building, what is land cost?  Does this fit within your qualifying ratios?
2. Complete a loan application and obtain a pre-approval
3. Support the information you gave on your loan application and obtain a full credit approval
4. Complete your budget and have your project appraised.
5. Complete final loan underwriting based on your credit approval, appraisal, budget.
Starting this process now will move you ahead of the pack- you could be breaking ground by MARCH!  
Our program allows you to build your own equity, but consider the market now… the down-swing of any market cycle is always followed by an up-swing… build your own home now and you will not only be building in sweat equity, but forthcoming real estate appreciation!
Contact me at 866-874-8926 toll-free (or via email)
to discuss your project further or lending parmaters;
I am anxious to get your ready for Spring Building!

You may also input your project details on my website at  Here also you will find a secure loan application form.
            *the cost to transport, ie. FUEL costs, is affecting some building material costs in some areas. 
Best advice… shop local, which also is a very green approach!


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