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Exploring One-Time Close Construction Loans

Discover the seamless path to building your dream home with a one-time close construction loan. Our guide explores how this innovative financing option combines the construction phase with a permanent mortgage, saving you time, money, and paperwork. With MIDFLORIDA Credit Union, embark on your journey confidently, guided by knowledgeable mortgage specialists who ensure a personalized experience tailored to your needs. Dive into the full article to learn more about unlocking the door to your dream home.

Understanding ARM 10/1: Is It Right for You?

Unsure about buying a home in today's fluctuating market? The 10/1 ARM might be your answer. This mortgage offers 10 years of stable interest rates followed by annual adjustments, potentially saving you money upfront and providing longer predictability than traditional options. However, understand the possibility of higher payments later and carefully assess your risk tolerance. This blog delves into the 10/1 ARM, empowering you to make an informed decision and potentially unlock your homeownership dream in 2024.

Essential Steps to Secure the Right Loan for Your Land Purchase

Looking to purchase land for your dream home? This article outlines essential steps to secure the right loan for your land purchase. From understanding the types of loans available to assessing your financial situation and navigating the approval process, we've got you covered. Plus, we offer tips to avoid common pitfalls and highlight how you can finance the market value of the lot with a low down payment. Some lenders, for example, calculate fixed-rate payments using up to 20-year amortization on their home lot loans, with a five-year balloon payment, and amortize adjustable-rate payments over 15 years.