Loan


Ongoing Growth in Residential Construction Loans Points to Additional Expansion

Russ Ruhnke, a senior vice president overseeing lending to home builders throughout the Midwest for Associated Banc-Corp., based in Green Bay, Wis., said the number of home-construction loans that the bank reviews for approval has increased by 40% to 50% in the past year.

“I do notice that we seem to have more competition…from the smaller, community banks,” Mr...
That marks the fifth consecutive quarter of double-digit, year-over-year percentage growth as construction lending rebounds from its nadir of $201.5 billion in early 2013.

The main residential component of that total–loans for constructing homes of single- to four-family units–also continued to gain ground this year...
And some banks want guarantees from builder executives to personally repay loans if their companies can’t, a proposal at which many builders balk.

Credit “is available, but it’s definitely more conservative,” said Gary Tesch, president of Houston-based McGuyer Homebuilders Inc., a closely held builder aiming to construct 1,500 homes this year...
But, several home builders say, the availability of construction loans no longer is one of them.

Indeed, lenders are opening the spigot at a steady, albeit moderate, pace for commercial and residential construction alike, which bodes well for output in those industries...
“Ongoing growth in residential construction loans points to additional expansion for single-family (construction) starts.”

That’s been the sticking point in recent years...
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Down Payment



Please, do not expect your lender to offer you any home loans with no down payment ...
Rules may differ in each state, but there are a few common points, which potential home buyers must highlight when applying...
Also, until that time, home loans with no down payment were a common thing...


Until October 1, 2008, sellers had the right to help buyers build sums of money for down payments by contributing up to 6% of the home value...
Based on this information, you will be informed about what kind of home is more affordable to you and you’ll be aware of your own risks...
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Balance Transfer Offers



Balance Transfer Calculator

0 interest balance transfers are great for those who are ready to shift loans regularly...
Most companies provide online services, so you can arrange for the transfer without leaving your home...
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FHA Loan Down Payment

The same goes about home sellers...
There is just one exception: zero payment loans are still granted by the Department of Veterans...
Besides, the client is going to have to prove that he/she has been ‘homeless’ for at least 3 years to constitute a first time home buyer...
Until October 1, 2008, it was not uncommon for home sellers to partially cover for down payments and thus help buyers make a down payment...
The FHA is authorized to check potential home buyers’ credit histories and their financial statuses...
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Down Payment on a House



According to the program, loans are granted by FHA-backed lenders...
Choosing a lender is a challenge for a potential home buyer, as is assessing a potential borrower for a lender...
Those who have not owned a home for at least 3 years can qualify for a down payment assistance program...
For instance, if you have chosen a home with a 15% down payment, multiply its price by 0.15...
Needless to say, you should choose a home, which you think is more affordable...
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What Are the Best CD Rates Today?

Still nothing to write home about, but if you can hold on to your EE bond for 20 years, it will double in value — so if you put away $5,000, after 20 years, suddenly you’ll have $10,000.

Of course, only you can decide whether you’re willing to part with your money for that long...
The major difference is on the bank’s end — it can put your balance in low-risk investments such as CDs and bonds instead of simply using it for loans.

You may need a larger opening deposit for an MMA than a savings account ($1,000 is common), but this depends on the bank...
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