Homeside Financial - February 2020

Meet Conan The Dog Who Helped Take Down al-Baghdadi

On Oct. 28 last year, President Donald Trump tweeted a photo that quickly went viral. It showed an adorable snapshot of a bright-eyed Belgian Malinois, tongue lolling, still wearing its camo military vest. In the caption, President Trump explained that the pup, Conan, was a national hero who was instrumental in taking down ISIS leader Abu Bakr al-Baghdadi. With four years in special operations forces and roughly 50 missions under his collar, Conan was selected to be part of the team that pursued al- Baghdadi through a network of underground tunnels in northwest Syria, where the terrorist ultimately died. It’s unclear whether Conan was there to track al-Baghdadi or to spot improvised explosive devices that may have been planted on the route, but either way, he performed well. According to NBC News, Conan was injured by some live electrical cables during the mission, but he recovered quickly and was back on duty within the week. Meanwhile, President Trump invited the brave pup to theWhite House and tweeted out a doctored photo that showed him awarding Conan a Medal of Honor.

President Trump captioned the photo “AMERICAN HERO!” and he’s not alone in his appreciation for the hardworking dogs that have been helping our military sinceWorldWar II.

“To me, they’re the first line of defense,”United States War Dogs Association President Ron Aiello told Vox after the news about Conan came out. “They’re such a great asset to our military today.” Military dogs are put up for adoption after 6–8 years in the service, which means a lucky civilian could take Conan in as early as 2022! Meanwhile, dozens of other smart canine heroes are looking for homes. To learn more

about military and other working dog adoptions, visit MissionK9Rescue.org.

What Is a Construction-to-Permanent Loan? And Should I Get One Before Building My New Home?

Sometimes, you just can’t find your dream home already built and on the market. However, that doesn’t mean it won’t ever be a reality. Today, homeowners can finance both the construction of their dream home and their mortgage through one loan, called a construction-to-permanent loan (C-to-P). Also known as single-close loans, C-to-P loans help build 100,000 new homes annually, and in a housing market where the construction industry can barely keep up with the demand for housing nationwide, they’re becoming a more valuable tool than ever. Without a C-to-P loan, financing the construction of your home would be a lot harder. You would first have to take out a construction loan, which works almost like a line of credit. Interest is only charged on the money spent on the construction of the home. Once construction is done and judged to have been built in compliance with local ordinances, you have to take out a separate mortgage using the completed home as collateral.

Two separate loans can lead to some potentially precarious situations for homebuyers and homeowners. If the market changes during construction, it could be harder to qualify for a mortgage on the completed home. C-to-P loans eliminate that possibility by bundling the construction loan and mortgage loan into one. That’s not to say that C-to-P loans don’t come without risks along with greater convenience. Because of those risks, interest rates on C-to-P loans tend to be higher than your average mortgage, and many lenders will expect a down payment of at least 20%. That’s why if you’re trying to build your dream home, you should come to Homeside Financial. We have a wider array of C-to-P products than any other lender in the area, and we can help you find one that works for you. Even if you don’t think you have enough for the down payment, or you don’t have a top-tier credit score, we can help you find the right C-to-P loan to buy the land and build your next home. For more information on how we can help, call 828.229.7877.

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jharrington@gohomeside.com

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