We have shared a lot of tips over the last few months to help you navigate the Renovation Journey with common sense financing options. To round out your renovation, we’re here with a few more tips to get you through it without a hitch. Plan realistically Set yourself up for success before your Renovation Journey even gets underway by planning realistically. This is where our tips on planning will come in handy! Talk to your expert Great Midwest Bank loan officer about your home renovation financing options. We can help you plan a renovation that is within your budget. Expect the unexpected From experience, we know that there’s often bumps in the road when renovating. From unforeseen structural issues to… Read the full article.
Now that you have made it through the planning process, you’re ready to kick off demo and get those renovations underway! If you missed our Renovation Journey – Planning blog, check it out here. Now it’s time to hire the right contractor, which can be a make-or-break for your renovation. Your loan submission often requires a contract, plans and specifications, depending on the scope of your renovations. Below are some helpful tips to guide you through the process so it feels less like blind dating and more like a healthy commitment. Speed dating, sort of. Finding the one perfect contractor begins with sorting through your options. Word of mouth (ask your Loan Officer!) and even Facebook can be particularly… Read the full article.
At Great Midwest Bank, we do our absolute best to make a difference for our customers. Financing your home renovation or construction project is one of those priorities, and we also want to be a resource for helping you make wise budget decisions and getting the best return on your investment. Prior to embarking on your Renovation Journey or the construction of a new home, we can offer the following helpful tips on the flow and feel of the rooms in your home to maximize your budget. Main living areas The flow The living room is often the central part of any home. If the living area isn’t already the central part of your home, there are still renovations that… Read the full article.
The best way to kick off your Renovation Journey or home construction is to plan it! Sounds obvious, right? One of the most common things we hear from friends, family, and customers that have taken on renovations in the past is that they went over their budget due to unexpected obstacles and unforeseen costs. We’re here with some helpful tips to take out any of the guesswork that comes with setting your Renovation Journey budget so you can plan for success. Apply for a pre-approval A renovation loan, like any other loan, should start with a pre-approval. The online pre-approval is simple and can take as little as 20 minutes. If you would rather have the help of a… Read the full article.
As we celebrate Memorial Day with friends and family, it’s important to remember what the holiday is truly about: those who paid the ultimate price for our country. It’s a day to remember that every day is a bonus and to honor veterans past and present. The Stars and Stripes Honor Flight is a nonprofit organization that honors local Wisconsin World War II, Korean War, Vietnam War, and terminally ill veterans by flying them to Washington, DC. These heroes get to visit their memorials, share their stories, connect with other veterans, and create once-in-a-lifetime memories. They also get to be welcomed home with a celebration that they may not have experienced upon their own homecoming. The Stars and Stripes Honor… Read the full article.
Applying for a pre-approval is equally as important for a major renovation loan or home construction loan as it is for any other mortgage loan. When you start your Renovation Journey by applying for a major renovation loan or construction loan with Great Midwest Bank, you get the expertise of our Loan Officers as well as the seasoned practices of a bank that has been helping local Wisconsin homeowners just like you since 1935. We have established strong connections with local contractors and builders and can help connect you with the right professionals for your renovation or construction. With our common sense lending philosophy, we take the time to thoroughly analyze every application we receive, not just look to see… Read the full article.
Welcome to the start of your Renovation Journey! If you’re reading this, you may have some interest in making a change to your current home, buying a fixer-upper, or building an entirely new home. In any case, you have come to the right place. At Great Midwest Bank, we offer common sense lending to ensure you get the perfect personalized loan to help you along the Renovation Journey (or Construction Detour, if your renovation is a hefty one!). A major renovation is a major commitment. It takes careful planning and a little bit of time, but it also pays off big time in the end. We are committed to helping you through the entire process, from start to finish, to… Read the full article.
You’ve successfully moved into your home. Before you move in and start unpacking, don’t forget to take care of some final paperwork and home care that will save you a lot of hassle further down the line: Give your home a nice deep clean, or hire someone to do it for you. Make any flooring or painting updates before you start moving boxes of your belongings, furniture, and more into your home. Get your air ducts cleaned or change the air filters. Change the locks. Fill out a change of address form at the post office so mail gets rerouted to your new home. Update your driver’s license with your new home address. Send out change of address cards! Email… Read the full article.
Most closings occur at one of our branch offices and require you to attend in person. About a week ahead of closing, you can expect a Closing Disclosure that provides you with final costs and funds required for closing. The Closing Disclosure compares the final figures to those provided in the original Loan Estimate so you can see what, if anything, has changed. Final funds for closing are usually provided to us in the form of a cashier’s check. If that’s inconvenient, we can also make arrangements to have the funds wired directly to Great Midwest Bank a day or two ahead of time. Generally, borrowers find Closing Day far more simple than originally expected – one of the easiest… Read the full article.
Congratulations! You’ve successfully negotiated an offer to purchase or finalized plans with a builder or renovation contractor. In most cases, we can close in about 30-35 days from the time we receive all of your appropriate paperwork – the signed Offer to Purchase or Building Plans & Contract for a new home or renovation. Expect a Loan Estimate within a few days that provides details about costs and required funds for closing. From here, when you are ready to proceed, we will order an appraisal, which is usually a two-week process. Meanwhile, we can update your file with the most recent financial information and double check to be sure we have all of our own ducks in a row for final approval,… Read the full article.