Tips For Saving Money When Buying New Construction – North Florida Mortgage

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Even though you might be financially stable and secure enough to easily afford a monthly mortgage payment, saving up money to put down on a home can seem like a daunting task. You should not let this step get in the way of buying the home of your dreams; instead, try these tips for saving money to put toward your goal of home ownership! 1.

Save Big The Next Time You Build. Considering how fragile the economy is right now and how timid banks are to loan money for new homes I thought I’d share my experience with saving money on new home construction. It wasn’t that long ago when getting loans was really easy and building large homes was the trend.

When building your new home, you can opt for a construction-to-permanent, or C2P, loan – single-close financing where you, rather than your builder, take out a construction loan that automatically switches to permanent financing once the home is completed.

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Better yet, follow the pro tips below to avoid buying a lemon in the first place. Look for new. mortgage, it generally makes financial sense to pay as many points as you can to snag that lower.

Although the home buying process can be stressful for first-timers, it will all be worth it when you walk into your new home for the first time! Use these tips and they will be sure to help you save money in the process. If you are looking for an experienced mortgage loan processor contact American Dream Home Mortgage at 813-655-4663 today!

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