Tag: mortgage loan
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What's the Difference between a Construction Loan and a Mortgage Loan?
Posted On: August 27, 2019 by Falcon National Bank in: Your Financial Life | Personal Banking
If you’re considering building your dream home instead of purchasing an existing house, you’ll need financing. The whole thing can be confusing and more than a little intimidating. Do you need a mortgage? A personal loan? It’s hard to know where to start. What’s tricky is that you’re asking for financing for something that doesn’t actually exist yet. It requires something different than a traditional mortgage. Trying to find land, a builder, and all the other...
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Shopping for a home: the mortgage process. Should I get pre-qualified or pre-approved?
Posted On: June 4, 2019 by Falcon National Bank in: Your Financial Life | Personal Banking
The home buying market is hot right now. Summer is the perfect time to move, the economy is stable and buyer confidence is high. However, inventory is also a bit low and that means that houses are selling fast. If you are actively looking, you will want to be prepared to act quickly when you find that perfect property. That means having all your financing sources in-line. What’s the first step? Pre-qualification and pre-approval are two different terms used to describe the initial part of...
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Understanding and Avoiding Mortgage Scams
Posted On: May 7, 2019 by Falcon National Bank in: Your Financial Life | Personal Banking
Buying a home is right up there with some of the most impactful events in a person’s life. Unfortunately, many people become victims of mortgage scams and fraud. Someone is always out there looking to make a quick buck. Criminals prey at a time you could be the most vulnerable. You’re distracted and excited about this next chapter of your life. The fact that you’re falling victim to a scam doesn’t even show up on your radar. Understanding mortgage fraud is critical to...
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