What Is Your Financial Analysis?

In order to get approved for a construction loan you will need a thorough financial analysis. Some professionals think that the first place to start is with finding a builder.

Not yet. Your starting point, after you have gathered ideas for your new home, is to determine whether you have the financial strength to get the job done. Then, after you are secure in your finances, and have at least a good idea of what you want in a home, it will be time to find a builder.

Right now though, you need to ask yourself:

Do we have the financial strength to build?

That is the bottom line question, isn't it? Your financial strength will determine the framework for the size, style, composition, and location of your home. In order to get to the bottom line question, your financial analysis needs to be complete and accurate.

Show me your money? That's the question your lender will ask.

You want to be prepared to give your lender all the answers he or she needs and you want to be able to do it in a professional and organized manner. When you are truly organized, it will make a powerful presentation in your loan application.

Therefore, before your lender asks Show Me Your Money you must prepare and analyze your

Personal Financial Report.

Go on to Step 2: Personal Financial Report

BuildWisely's Home Planning Guide Helps With Your Financial Analysis

Steps:

1 Financial Analysis

2 Personal Financial Report

3 Personal Credit Report

4 How Much Can I Borrow?

5 Debt Reduction Plan

6 Protect Your Wealth

7 Shop for a Home Loan

8 How to Pay a Loan Off

9 Government Backed Loans

10 Choose Your 1st Mortgage Home Loan

11 Your Financial Presentation for Home Loan