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New Year, New Home – Become A Homeowner in 2016

Screen Shot 2016-02-05 at 5.19.57 PMEach year in January, many of us set yearly goals and resolutions aimed at improving our lives. If one of your 2016 goals is to become a homeowner, NOW is the time to act. Many analysts predict that the Federal Reserve’s interest rate increases throughout the year may impact home mortgage rates.

That being said, you should definitely consider buying, building, or refinancing before the Fed raises the interest rates again. CU Network Services offers a variety of products to meet your personal needs. In addition to offering all the traditional mortgages, CU Network Services specializes in Vacant Land and Owner-Builder Construction Loans.

If you can’t find your dream home, you may as well start from scratch and build it yourself. Although Oahu is already heavily developed, there is more vacant land available than you may think. CU Network Services offers a short-term, 2-year Vacant Land Loan that finances 80 percent of the purchase price and must be converted to a construction loan within two years.

Another product offered by CU Network Services is the Owner-Builder Construction Loan. This loan is great for building on vacant land, tearing down an old home and rebuilding, or for major remodeling on your current home. The Owner-Builder Construction Loan is also a short-term loan up to one year with interest only payments during the construction period. While knowledge of home construction is necessary, this loan has a quick turnaround time from start to finish. If you’re new to the owner-builder construction process, CU Network Services can recommend a variety of local builders to help you build the house of your dreams.

CU Network Services’ home loan experts are here to help with continuous assistance for all your home loan needs. Contact them today to lock in your rates while they are still low! Call 783-8333 or visit their office at 715 S. King Street, Suite 100.

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