why do we need to have insurance on the land portion of our construction loan?
Posted on Jul 01, 2008 under Insurance Information |We are getting a construction loan through Wells Fargo. We have bought land already and have a loan on it with another bank that we are going to roll over into the construction loan. Our loan officer told us that we have to get insurance on the whole loan amount but that doesn't make since. Why do we need to have home owners insurance on land?
July 1st, 2008 at 9:29 am
home own insurance is ONLY for house , never for land.
how ever once u rollover land in to house mortgage not construction loan , the insurance will still be on the appraisal of the complete package.
they maybe talking Private Mortgage InsurancePMI which covers bank if u do not have real money down (not appraisal money)
July 1st, 2008 at 9:29 am
What would happen if a couple of kids were playing on your lot and got hurt or someone tripped and fell on your lot? They would sue you. Thats why you need insurance on the land.
July 1st, 2008 at 9:29 am
When I was building the contractor had to carry the insurance until we occupied the home.
As far as appraisal money on a new construction. They will take the appraisal into consideration when they determine the loan to value ratio, this will determine PMI. Since their is no selling price, they have nothing else to go by. At least that is how BofA, USSA, and all the local banks in my area do it.
For my construction loan they rolled land loan into the construction loan. They wouldn't do it any other way, unless the land had no lien on it. The issue is if you default on the loans what would get paid first the construction loan or the land loan.
December 3rd, 2010 at 10:08 pm
Thank you for the advice. I’ve found your first point to be most effective.
December 4th, 2010 at 3:19 pm
Just discovered this site thru Bing, what a pleasant surprise!
December 5th, 2010 at 6:30 pm
Well I definitely enjoyed studying it. This information offered by you is very constructive for proper planning.
December 6th, 2010 at 9:47 am
I am continuously searching online for tips that can facilitate me. Thanks!
December 6th, 2010 at 8:52 pm
i dont really agree with what you are saying how could you think like that?
December 7th, 2010 at 12:20 am
Hey, awesome website. I actually came across this on Ask Jeeves, and I am stoked I did. I will definately be revisiting here more often. Wish I could add to the post and bring a bit more to the table, but am just taking in as much info as I can at the moment.Thank you..
December 7th, 2010 at 12:52 am
Incredible write-up. Did you read the associated piece in the Huffington Publish some time again? Evidently more and more mainstream media are paying attention to this. I hope your web site gets more and more subscribers as this problem gets more coverage, as it is a superb useful resource.
December 7th, 2010 at 5:14 am
A brilliant share, I just passed this onto a workfellow who was doing a little analysis on that. And he in fact bought me lunch because I found it for him… smile.. So let me reword that: Thankx for the treat! But yeah Thankx for taking the time to talk about this, I feel strongly about it and love learning more on this topic. If possible, as you become expertise, would you mind updating your blog with more info? It is highly helpful for me. Big thumb up for this blog!
December 7th, 2010 at 5:39 am
Keep working ,splendid job!
December 7th, 2010 at 9:51 am
You are not the general blog writer, man. You definitely have something powerful to add to the net. Such a wonderful blog. I’ll be back for more.
December 7th, 2010 at 12:37 pm
Wow, a helpful article dude. Thnkx Unfortunately I am experiencing problem with ur rss . Fail to subscribe. Does anybody else experiencing similar rss issue? Anybody who knows please reply. Thanks in advance
December 7th, 2010 at 5:29 pm
hello admin, awesome blogpost. pls continue this great work!!
December 8th, 2010 at 6:38 am
Have been able to cut out 1 full pack a day with e-cigs. Plan to completely stop Analogs with the help of e-cigs in the near future.
December 8th, 2010 at 9:48 pm
Wow! Thank you! I always needed to write on my blog something like that. Can I take a part of your post to my site?
December 8th, 2010 at 10:42 pm
It seems that you’ve put a good amount of effort into your article and I want a lot more of these on the web these days. I truly got a kick out of your post. I do not have a bunch to to say in response, I only wanted to register to say special work. Adauga Anunt Gratuit Bucuresti
December 9th, 2010 at 7:36 am
P90x Is one of the best workout I ever follow it,from your post I come yo know few new things that can help me out.
December 9th, 2010 at 7:48 am
Speaking of boots, people always have lots to talk about the topic. In power in this season of boots, boots will be necessary every fashionista fashion items. The wide range styles and colors of these shoes available in are also what attracts many customers. But in the cold of winter, a pair of good boots, warm boots every loved one essential goods. And with its warm and good Ugg boots, lightweight, comfortable, wearable, etc., become the preferred choice of modern people.
December 9th, 2010 at 8:37 am
payday loans are very good option to get cash instantly without any credit check
December 9th, 2010 at 5:11 pm
Found your website online on Yahoo Answers these days and really liked it.. I bookmarked it and will likely be back to test it out some extra later.
December 10th, 2010 at 12:15 am
In case you’re searching for the most effective cleaning services london this specific internet site can be the particular appropriate place!!!
December 10th, 2010 at 5:33 am
I love the blog site layout ! How do you make it? It is so cool.mortgage bankers ny
December 10th, 2010 at 10:08 am
good quality post thanks
December 11th, 2010 at 7:51 am
Choosing the perfect handbag is not like picking what you are going to wear to a slumber party. You need to have an idea at the least what look you want to portray and what image you want to leave in people’s minds.
December 11th, 2010 at 8:31 am
How should i go for acai berry? Is it really worth working?
December 12th, 2010 at 11:00 am
driving range equipment
December 13th, 2010 at 1:41 am
Thnkx for sharing this submit!,bought to bing to your page and it appeard wierd but after refresh all displayed normal.
December 13th, 2010 at 4:06 am
I just found your website on Google and I must say, I’m impressed. I frequent a lot of blogs and yours is by far one of the best I’ve come across. The information you have here is concise and accurate and you have a very good writing style. Perhaps you should consider writing a book?
December 13th, 2010 at 12:41 pm
I admire your website , it has of lot of information. You just got a perennial visitor of this site. Adauga Anunturi Gratuite Suceava
December 13th, 2010 at 3:10 pm
Your RSS feed doesn’t work in my browser (google chrome) how can I fix it?
December 13th, 2010 at 5:38 pm
good quality post thanks
December 14th, 2010 at 2:56 pm
I thought it was going to be some boring old site, but I’m glad I visited. I will post a link to this page on my blog. I am sure my visitors will find that very useful. Adauga Anunturi Gratuite Craiova
December 14th, 2010 at 6:05 pm
I found your entry interesting do I’ve added a Trackback to it on my weblog licensed mortgage bankerslicensed mortgage bankers
December 14th, 2010 at 7:26 pm
great thanks \o/
December 15th, 2010 at 1:51 am
Amazing info really appreciate you sharing
December 15th, 2010 at 8:37 am
How come you are moderating my comments?
December 15th, 2010 at 12:39 pm
I’m looking ecstatic this morning.
December 16th, 2010 at 5:38 pm
Great! Thanks for post
December 18th, 2010 at 12:18 pm
Having fun with online Gambling dens should be an enjoyable expreience for that you must make sure that the online gambling house you engage in at is a trustfull one and won’t misuse your personalized information. Adauga Anunturi Gratuite Pitesti
December 19th, 2010 at 7:29 am
Absolut amazing suggestion you made here but where exactly did you find this information?
December 19th, 2010 at 12:48 pm
The Nexus One uses an Adreno 200 GPU which is the weakest GPU among the high-end Android smartphones. The Droid 1 has a PowerVR SGX GPU, the same kind the iPhones have, and it’s much faster than the Adreno 200. If you’re going to compare against the iPhone 4 (PowerVR SGX 535), use a phone with hardware more on par with that phone. The Droid X/Droid 2 use the PowerVR SGX 530, the Galaxy S phones use the PowerVR SGX 540, and the Desire HD and G2 use the Adreno 205 which is close to the performance of the PowerVR SGX 540.
December 19th, 2010 at 3:02 pm
yesss very thanks man i love this site
December 19th, 2010 at 8:37 pm
1. Cool info it is really. My friend has been searching for this tips.
December 19th, 2010 at 11:13 pm
This article a realistic look at the situation. Much appreciation, at least from me for the great, i really like finding views that educational effective in nature.
December 19th, 2010 at 11:36 pm
Have you considered adding several social bookmarking links to these sites. At the very least for twitter.
December 20th, 2010 at 5:22 pm
You made various fine points there. I did a search on the issue and found most persons will agree with your blog.
December 21st, 2010 at 1:36 am
most beneficial. writeup we always need I thought ideas.
December 21st, 2010 at 6:38 pm
Just desired to say that you’ve some awesome content on your blog. If it is OK I wants to use some with the information you supplied on my web site. If I link back again to your website would it be OK to do so? Adauga Anunturi Gratuite Buzau
December 22nd, 2010 at 4:28 am
c00l inf0 keep it up thanx
December 22nd, 2010 at 10:28 am
1. Outstanding article it is surely. My friend has been searching for this information.
December 22nd, 2010 at 2:07 pm
Very cool blog I’m happy I stumbled across it
December 23rd, 2010 at 7:58 am
I conceive other website proprietors should take this internet site as an example , very clean and good user pleasant pattern .
December 23rd, 2010 at 3:13 pm
I am quite often on the lookout for good blogs thrilled I found. The article a whole lot sense to me. How frequently do you update
December 23rd, 2010 at 11:29 pm
excellent info keep it up thanks
December 24th, 2010 at 5:35 pm
You can consider me in for a Digg.home buyers agent
December 24th, 2010 at 9:35 pm
Pharma Whey [PhD Nutrition]: Very good product. Good value for money and added glutamine and BCAAs. Everyone is different and I actually liked the strawberry one, although you have to wait for it to settle after mixing. But what matters is that I made good progress while on this
December 25th, 2010 at 2:10 am
2. Great job once again! Thumbs up!
December 26th, 2010 at 10:39 am
Great post, you have pointed out some wonderful details , I as well think this s a very excellent website.
December 26th, 2010 at 12:27 pm
I’m still learning from you, while I’m trying to reach my goals. I certainly liked reading all that is written on your blog.Keep the posts coming. I loved it!
December 26th, 2010 at 4:43 pm
great thanks \o/
December 27th, 2010 at 10:54 pm
c00l info keep up your good work thanx
December 28th, 2010 at 6:28 am
It is rare for me to discover something on the net that’s as entertaining and fascinating as what you have got here. Your page is lovely, your graphics are outstanding, and what’s more, you use source that are relevant to what you are saying. You’re definitely one in a million, good job!
December 28th, 2010 at 7:08 am
There are plenty ofthoughts on this theme but This one I found is the greatest.
December 28th, 2010 at 8:28 am
After read a few of the posts on your blog since yesterday, and I truly like your way of blogging. I added it to my favorites site list and will be checking back soon. Please check out my web site too and let me know your opinion.
December 28th, 2010 at 11:53 am
It’s unusual for me to find something on the cyberspace that’s as entertaining and fascinating as what you have got here. Your page is lovely, your graphics are outstanding, and what’s more, you use source that are relevant to what you are talking about. You’re certainly one in a million, man!
December 28th, 2010 at 3:13 pm
Surprisingly! It’s like you understand my mind! You seem to know so much about this, like you wrote the book in it or something. I think that you can do with some images to drive the message home a bit, but other than that, this is helpful blog post. A wonderful read. I’ll definitely revisit again.
December 29th, 2010 at 4:27 am
2. Good story once again! I am looking forward for more updates=)
December 31st, 2010 at 6:32 am
Hello, I will’t perceive how one can add your site in my rss reader. ready to Assist me, please
January 2nd, 2011 at 5:29 am
Hi!
Thanks for sharing ..
I just added this site to my favorite
January 2nd, 2011 at 5:38 am
very good \o/
January 3rd, 2011 at 6:49 pm
cool y0u hit it 0n the nose will submit to digg
January 3rd, 2011 at 11:33 pm
I would just like to let y0u know how much I learnt from reading blog Dugg you.Hope 2 be back in the near future for some more good stuff
January 4th, 2011 at 7:40 am
There is apparently a bunch to identify about this. I think you made some nice points in features also.
January 9th, 2011 at 5:24 pm
this is a greatly riveting dispatch, as a consequence of you on the information. Wretched my english is not the darned best. do you know if it is possible to turn this to the spanish language. that would be very helpfull.
January 18th, 2011 at 11:25 pm
I indeed like this post, i did not materialize a a load of the things that you posted in here. i ahve much more callow dope regarding these topics and topics allied to it. some people may upon it immutable to understadn the english vernacular but i find it very easy for the privacy that has make to be what is todays policy.
January 27th, 2011 at 9:56 am
Put Signal Harangueu u435y
October 30th, 2011 at 10:20 pm
Christmas Tree…
That is very attention-grabbing, You’re an overly professional blogger. I’ve joined your rss feed and stay up for in search of more of your wonderful post. Also, I have shared your website in my social networks! Christmas Tree …
November 27th, 2011 at 5:04 am
ont i halsen…
[…]k Very pleased to have found this site. Definately enjoyed the post. Hmm… rz[…]…
November 27th, 2011 at 11:59 am
omdömen om hotell amsterdam…
[…]o Finally a person who’s writing about something other than superficioul subj u0[…]…
January 9th, 2012 at 11:27 pm
… [Trackback] …
[…] Read More Infos here: kingkings.com/2008/07/01/why-do-we-need-to-have-insurance-on-the-land-portion-of-our-construction-loan/ […] …
January 19th, 2012 at 5:33 pm
Sites You Should Check Out…
http://www.e-psychic-readings.com/horoscope-yahoo…
January 19th, 2012 at 5:57 pm
How do you do? I simply love your nice site and pls stick to it…
How do you do? We loves your terrific editorial thank you and pls stick to it…
January 29th, 2012 at 7:28 am
… [Trackback] …
[…] Read More: kingkings.com/2008/07/01/why-do-we-need-to-have-insurance-on-the-land-portion-of-our-construction-loan/ […] …
January 29th, 2012 at 11:26 am
[…]The information mentioned in the article are some of the best available […]……
[…]below you’ll find the link to some sites that we think you should visit[…]……
January 29th, 2012 at 10:40 pm
[…]always a big fan of linking to bloggers that I love but don’t get a lot of link love from[…]……
[…]just beneath, are numerous totally not related sites to ours, however, they are surely worth going over[…]……
February 3rd, 2012 at 6:10 am
[…] that is the end of this article. Here you’ll find some sites that we think you’ll appreciate, just click the links over[…]……
[…] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose […]… …
February 3rd, 2012 at 9:40 am
… [Trackback] …
[…] Find More on: kingkings.com/2008/07/01/why-do-we-need-to-have-insurance-on-the-land-portion-of-our-construction-loan/ […] …
February 5th, 2012 at 4:05 am
[…]the time to read or visit the content or sites we have linked to below the[…]……
[…]here are some links to sites that we link to because we think they are worth visiting[…]……
February 5th, 2012 at 9:50 am
[…] that is the end of this article. Here you’ll find some sites that we think you’ll appreciate, just click the links over[…]……
[…] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose […]… …
February 6th, 2012 at 7:34 am
[…]the time to read or visit the content or sites we have linked to below the[…]……
[…]here are some links to sites that we link to because we think they are worth visiting[…]……
February 6th, 2012 at 1:37 pm
Sites You Should Check Out…
http://www.drainsurgeons.getlisted.co.nz/auckland-drainlayer…
February 6th, 2012 at 9:05 pm
[…] that is the end of this article. Here you’ll find some sites that we think you’ll appreciate, just click the links over[…]……
[…] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose […]… …