The single most important item when you get ready to visit your lending institution is to have definete plans. That means have a legitimate set of plans that are drawn by someone that has a handle on what you will need for your locale, a list of specifications for your home, a complete legal description of your lot with a drawing showing the location of sewer, water, gas and electric. Location of your home on the plot of ground complete with measurements, show the driveway. If there are any easements by a power company or anyone else make sure you have their location on your plot plan and who that easement belongs to. I don't care if the plot has been surveyed yesterday, get a surveyor to check the measurements etc. and give you an accurate and up to date description of that plot. The cost of having this done will save many possible heartaches later.

When you visit the loan company you should have at least a good idea of who you are going to have build your home, the bank will need to know.

Make sure you understand any extra cost you may have to pay. This day and age you should be able to shop for a loan that you don't have to pay anything but maybe one point. That translates to one percent of your total loan, $100,000 loan you would pay $1,000.

Some of this will sound very childish to some of you but I can assure you that appearance means "much". If the husband is a garage mechanic you don't want to show up at the loan office in your work clothes. Believe me they have met and talked to enough folks that they can put a tag on almost everyone. Be prepared!! Practice what you wish them to know and what you don't want them to know, they can find out anyway. Be polite but not "syrupey". Know what you are talking about you cannot make a fool of a lending officer.

Pay $8.00 for each of the main credit bureaus and get an up to date report. If there are discrepancies in the report take care of them before trying for a loan. Allow 30 to 45 days for clearing the reports before applying for your loan. You can take a copy of the reports with you and ask if they would like to see them. You can access some of the three credit bureaus from the Net but it is easier to contact them by automated telephone and you will get results faster, sometimes.

If you are buying a home in a sub-division that is being built by one of several builders your loan may be set-up a little differently than if you decide to build on a "casual" property. These homes are rather cut and dried. You are normally allowed to select from several plans and you can pick and chose from a list of "finishes" etc. when you decide what you want you sign a paper and if you change these or other items later into the time the home is being built be prepared to pay dearly for the changes. Time is money to any contractor and he doesn't wish to waste it making changes. You will have to pay for what he has to change plus what his men could have been doing while they are doing the changes. Keep this in mind and don't make silly changes that you will regret later.

Have a substantial downpayment before you build and keep at least 5% of your total contract price in a can in the back yard for all those things you forgot and/or wish you had thought of to begin with.

If you need any further help don't hesitate to contact me via E-MAIL