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Construction Loan Officer - NMLS #134090

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December 27, 2018
So how do you appraise a home that isn’t built yet? This is a question I get quite often when I speak to potential clients about construction loans. The answer is, plans and specs. The appraiser will be given a copy of the legal description for your land, so they will know where you’re building. But instead of being...
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Loan officer
I was inspired to write this blog by a recent question on this site, “What is your role in the loan process”. I’m the loan officer, the middleman, plan and simple. On one side of my business I have my clients that need money to buy, build or refinance their home. On the other side...
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underwriter
First understand that there are two underwriters, the automated one and the human one. All conventional and government loan files are first submitted through a software package that we generically refer to as an Automated Underwriting System or AUS for short. The two most common systems are Fannie Mae’s Loan Prospector and Freddie Mac’s Desktop...
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Recently announced, the standard Fannie/Freddie loan limit for 2019 will be $484,350 for a single family home according to the The Housing Wire, https://www.housingwire.com/articles/47489-fannie-freddie-conforming-loan-limits-increase-in-nearly-every-part-of-the-us. In some “high cost’ areas the single family limit will raise to as much as $726,525. Does this mean that the FHA/VA limits will go up as well? Stay tuned! For more information give me...
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mobile home
Many of my referrals come from factory built home dealer/builders. Modular and Manufactured homes are great for the FHA/VA construction loan program. They save on construction costs and time (allowing you to save on interest during construction). They are built with quality materials, in a controlled climate, to very tight specs. There are lots of...
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