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
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