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Mortgage rates’ rise shock buyers, lenders – When Jared Rutledge called his mortgage broker one morning last week after putting in an offer. “If people believe rates are on the rise,” he said, “they may try to find that home sooner rather.
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What Are The Requirements For A Construction Loan – · This post outlines some of the requirements you need in order to qualify for a construction loan. Qualifications For A Construction Loan. Since the bank or lender is lending money for a real estate project that is yet to be built, they tend to be a bit leery in granting this type of loan.
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Once you do find a VA construction loan provider, you are going to need to adhere to a very strict set of guidelines and rules about the property and the finished building to meet VA regulations and property requirements. They take an average of 45-60 days to close, which is a long time for any type of mortgage.
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