The Construction Loan Process
The Construction Loan Process
When you're ready to take the first step towards building your dream home, you'll start the process by visiting a Schumacher Model Homes location near you....
Why You Should Pay Attention to Your Closing Disclosures
Why You Should Pay Attention to Your Closing Disclosures
Compare your closing disclosure against your loan estimate to ensure everything is up to speed. ...
What is a conditional approval?
What is a conditional approval?
While a conditional approval is very exciting, there are still more steps you’ll need to take to reach the final loan approval....
What is a loan estimate?
What is a loan estimate?
It’s a great place to start to give you a good idea of the total cost of home financing....
The Construction Draw Schedule
The Construction Draw Schedule
The construction draw schedule identifies certain points during the construction of the home for when additional funds will be released....
What is cash to close?
What is cash to close?
Cash to close is the total amount of money you will owe on the day of your closing....
Step-by-Step to Pre-Qualification
Step-by-Step to Pre-Qualification
A pre-qualification demonstrates your purchasing power to custom home builders and allows you to begin choosing the custom designs for your new home!...
How to Get Pre-Qualified If You Have Been Denied Before
How to Get Pre-Qualified If You Have Been Denied Before
If you aren't able to pre-qualify now, ...
What does it mean to “pull credit”?
What does it mean to “pull credit”?
“Credit pulls” or “pulling credit” is when your credit report is requested from one of the three credit bureaus to determine your credit for a given purpose...
The Custom Home Appraisal
The Custom Home Appraisal
Unlike for an existing property, an appraisal for a construction loan is based on the estimated value of an uncompleted project—your planned custom home. ...