2,071,025
Shoudl ask a mortgage broker.
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Valeria Mola
Sunny Isles Beach, FL
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
1,598,452
No idea.
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Valeria Mola
Sunny Isles Beach, FL
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
420,003
Very. In new construction the Borrower is married to me for a year, we exchange information and I guide them to completion. Existing sale or refinance it's an intense short term 20 -30 day relationship with emails and greeting cards for holidays after.
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Debe Maxwell, CRS
Charlotte, NC
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Diana Zaccaro Broker A...
Cocoa Beach, FL
5,244,268
They are paid out in stages referred to a construction draws with interest only payments and repayment in full is normally due after all payouts are complete. In recent years some loan types are referred to as construction to permanent.
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Debe Maxwell, CRS
Charlotte, NC
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Diana Zaccaro Broker A...
Cocoa Beach, FL
1,057,404
Temp to perm construction financing is absolutely different from a conventional mortgage. That's where interim financing is followed by permanent financing once the home is completed.
However, some banks can do a one time close. You should Google these and look into it.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
1,325,749
There can be numerous nuances of differences among mortgages whether for new construction or resale home.
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Debe Maxwell, CRS
Charlotte, NC
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Diana Zaccaro Broker A...
Cocoa Beach, FL
1,093,347
That is a good Q for a mortgage lender.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
3,350,439
I wish you all the best with your real estate studies.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
4,905,762
Are you talking about a property that is already built or one that is being built?
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Debe Maxwell, CRS
Charlotte, NC
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Bob Crane
Stevens Point, WI
5,583,328
there are many mortgage people here who have that answer....
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
2,402,162
They are very short term and granted with the understanding they will be paid off quickly or rolled into a typical mortgage once the work is done kennith Frazier
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Diana Zaccaro Broker A...
Cocoa Beach, FL
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Candice A. Donofrio
Fort Mohave, AZ
6,423,496
Talk to a lender about this one.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
7,869,902
There can be many different structures. Talk with your trusted local mortgage loan officer who deals with contruction loans.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
5,772,693
Agree with Nina Hollander
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Nina Hollander, Broker
Charlotte, NC
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Ron and Alexandra Seigel
Carpinteria, CA
2,222,275
This is a great question for a licensed mortgage broker Kennith.
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Debe Maxwell, CRS
Charlotte, NC
5,115,878
They are not. But I suggest you ask a mortgage lender.
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Bob "RealMan" Timm
Minot, ND
5,879,125
1,506,773
In my experience, not that different. Of course the homes were built by the time my family bought them.
5,257,589
Vastly different!
They are a 2-part process with the first part being broken down into draws paid to the builder as they get through each stage of the building process.
Once a CO is obtained and the final draw has been paid, the home moves into the 2nd part of the process which is the final, permanent loan (like a regular mortgage).