Thursday, February 9, 2012

The Bank "Heads Up"

I decided to edit my initial blog about the issues we had with the bank in order to try and maintain a more positive blog, I'll now post about any issues in more of a "heads up" manner in case someone reading this blog is planning to do a build similar to ours.  So my "heads ups" for the bank item is to make sure you understand fully the time frame that the bank expects the process to take, some say 30 to 45 days, others say 60 days etc., if possible try to establish the closing date up front for a reasonable date in the future that fits your needs and allows the bank adequate time to go through the process.  It also might help to go with a bank if possible that's already got your builder on the approved list which could speed things up a little.  Just because they claim to have the fastest process, lowest rates, etc. doesn't always mean they do, so be sure to shop around.  We didn't run into any major hurtles with the bank other than we didn't have a clear understanding for how long the const-to-perm process takes.

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