---

Am I likely to get approved for a construction loan?

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
jmarsili Joined: 12 Sep 2010 Posts: 1 1.33 Dollars($)	Posted: Sun Sep 12, 2010 5:37 pm    Post subject: Am I likely to get approved for a construction loan? Like 0 Dislike 0 My husband and I would like build a home in South Carolina. The property we want to buy and build on is $55,000, and I am guessing the house itself will cost about 100,00 to build. We have $85,000 cash, and own a home in Ohio that is paid for, worth about $75,000. However, my husband does not want to sell the house in Ohio, but it is an asset. Our credit is not bad, mostly some medical bills, but have had no trouble getting good interest rates on car loans, etc. I am a registered nurse, he is carpenter. Does it sound like I would be approved for the loan?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Sun Sep 12, 2010 9:17 pm    Post subject: Like 0 Dislike 0 Welcome jmarsili, As far as I can understand, both you and your husband have stable jobs. This is a positive point which will help both of you to qualify for a mortgage. Moreover, you've saved quite a large sum of money which will help you in paying the down payment. Also, you've mentioned that you've a good credit score. This will help both of you in qualifying for a mortgage. _________________ Procrastination is the enemy of your financial success

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0