While some homebuyers are fortunate enough to pay cash for their home, the vast majority of Americans will have a mortgage. If you are building a custom home on your own land, you will most likely also be getting a construction loan. Other than a home, the biggest purchase most people will finance in their life is the purchase of a car. However, the two lending processes are vastly different. What took minutes at a car dealership and seemed so simple isn’t the same process at all for a new home.

Your New Home Consultant from Impresa Modular is with you each step of the way to help with questions and to be a resource through the complete home building process. However, it is always good to know as much about the process as possible so you can ask questions and feel confident while navigating the loan process.

We have put together this quiz to test your knowledge and sharpen your skills as you begin to apply for a mortgage for your new custom home. It’s important that you have the facts about credit. Use our credit quiz to test your knowledge and gain confidence with the mortgage process!