When you lock a rate, your lender is guaranteeing you that rate for a specific amount of time, whether rates go up or down, you get the rate agreed upon at the time of locking. However, market rates can change daily, and rates could go down while your house is being built.
Topics: mortgage loans, single close construction loan, float down option
The normal housing market requires 6-7 months of inventory. Currently, the market has approximately 3.9 months of inventory. From low mortgage rates to insufficient construction of new houses, there are several reasons for the high demand and low supply.
Topics: mortgage loans, single close construction loan, manufactured homes, off-site construction
The National Association of Home Builder (NAHB) recently held a five-day event in Washington DC to showcase the new building technologies and updated features for manufactured homes.
Topics: mortgage loans, single close construction loan, manufactured homes
As mortgage rates remain relatively low, and with tight inventory on moderately priced homes, now is the time to think about building your dream home.
Topics: builder, building a new house, mortgage loans, single close construction loan
According to the National Association of Realtors (NAR), thirty percent of people born between 1980 and 2000 are buying homes for $300,000 and above this year, skipping the starter home and purchasing their dream home as their first home.
Topics: Construction Loans, building a new house, new home, single close construction loan
Manufactured and modular homes have dramatically changed in appearance and quality over the years and are fast becoming a great alternative for first-time homebuyers.
Topics: single close construction loan, modular homes, manufactured homes
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