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Tag: Loans

Posted on 08/22/2021
Should you Choose a Land Contract or a Mortgage?
Image by mohamed Hassan from Pixabay A land contract and a mortgage have a number of similarities. For example, you can use either option to purchase a home Both loans must be repaid on a monthly basis. Understanding the Differences A land contract is a legal agreement between a buyer and a seller. Rather than a traditional mortgage...
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Posted on 07/25/2021
Negotiating a Land Contract Vs. a Mortgage
Image by Shutterbug75 from Pixabay With a mortgage, a buyer is applying for financing to purchase the property in its entirety. They're relying on their credit and assets for approval before assuming responsibility of the full property. In a land contract, you're cutting out the need for a formal lender and relying on the seller to approve or...
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Posted on 04/25/2021
Mortgage vs Construction Loan: Understanding Key Differences
Image by pasja1000 from Pixabay Most homeowners have a mortgage against their house, and homebuyers who purchase existing homes usually secure a traditional mortgage before closing. When building a new house, however, you’re likely to need a construction loan before getting a home mortgage. Here’s a breakdown of each, including how they’re used in the new home building...
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