Building a house

Congratulations on making a commitment to each other. Being married or an unmarried couple will have no impact on your ability to get financing as the home loan process is the same. In terms of financing a new construction, make sure you find a reputable builder has their own line of credit and will carry the construction loan. You just need to be able to qualify for the end loan. Otherwise, you will put yourself at greater risk financially and legally. Happy Home Building!

I would get married first & get your loan. You're not going to get a better rate by being single unless one of you have credit issues & can't qualify for a loan. If you get the loan in both your names when married then you don't have to do it after the fact.I think if you go ahead & do everything on the front end the you will hav eless hassles down the road.Are you planning on getting a construction loan or is the builder getting the loan, buidling the home & then you're buying it upon completion?

Assuming there are no credit or other legal issues, getting married would make it a lot easier for you and for your lender... When you purchase a home as two individuals who are not married... all the paperwork is duplicated, two completely separate files... When you're married, there is only one file, but both your names are on it... There is no difference in the rate; because it's determined by your credit scores not your family status... WilliamAcres.com

Not sure the procedure to change the name on the loan. Would have to contact the lender to find out. The insurance would be easy im sure....just a phone call and proof of the name change would most likely do it. With the lender I think it would be best to just keep the name as her maiden name for now. it wont hurt anything. Not sure about title. I would contact a title company after the marriage to find out what to do. As far as getting a better loan for married instead of 2 single people the answer is no. both borrowers are occupants so the loan would be the same. It would be illegal to discriminate because the 2 people aren't married. Think about 2 domestic partners, if there were better loans for married couples we would be discriminating against somebody who can't legally be married in their state.My advice for this borrower, don't rush into getting married because of it potentially being easier than changing the names on insurance and everything. As she said, the stress of a wedding and building a home couldreally ware on any relationship.

Enter your answer hereNot sure the procedure to change the name on the loan. Would have to contact the lender to find out. The insurance would be easy im sure....just a phone call and proof of the name change would most likely do it. With the lender I think it would be best to just keep the name as her maiden name for now. it wont hurt anything. Not sure about title. I would contact a title company after the marriage to find out what to do. As far as getting a better loan for married instead of 2 single people the answer is no. both borrowers are occupants so the loan would be the same. It would be illegal to discriminate because the 2 people aren't married. Think about 2 domestic partners, if there were better loans for married couples we would be discriminating against somebody who can't legally be married in their state.My advice for this borrower, don't rush into getting married because of it potentially being easier than changing the names on insurance and everything. As she said, the stress of a wedding and building a home couldreally ware on any relationship.

Actually, the outcome will be the same. Don't base your decision on to speed up or slow down your wedding on having to change the name on another document or account. Building a house, married or not is probably going to test the strength of your relationship. In most cases the lender is going to be looking at the income, assets and credit of both of the borrowers together. Being married or not married will NOT factor into the decision, nor will it impact the terms of your new loan. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com