Carol Rasberry Millis- Mortgage Consultant-NMLS# 111994

10/29/2026

Underwriting is one of the key stages between applying for a mortgage and receiving final loan approval.

During this process, the underwriter reviews the loan file to confirm that the borrower, property, and loan meet applicable program and lender requirements. This may include reviewing income, assets, credit, debts, appraisal information, and other documentation.

Sometimes additional documents or explanations may be requested. That does not necessarily mean something is wrong. It can simply be part of completing the review and verifying information needed for the loan decision.

Understanding what happens during underwriting can make this part of the homebuying process feel much less mysterious. Staying responsive and keeping financial documents organized can also help the process continue moving forward.

10/27/2026

Financing a home that already exists and financing one that still needs to be built are two very different processes.

With a traditional purchase mortgage, the lender is financing an existing home. With construction financing, the lender may need to evaluate not only the borrower, but also the builder, plans and specifications, construction budget, property, appraisal, and project timeline.

Another key difference is how funds may be disbursed. Rather than providing the full construction amount at once, construction funds are typically released in stages, often called draws, as work progresses and applicable requirements are met.

Construction loan structures and requirements can vary by lender and program. Talking with a lender who regularly works with construction financing can help buyers understand what will be required before the project gets underway.

10/22/2026

Once the mortgage process is underway, financial changes can sometimes affect loan qualification.

Before closing, buyers may want to avoid opening new credit accounts, financing large purchases, taking on significant new debt, or making major changes to employment without first discussing them with their lender. Large transfers or deposits may also require additional documentation.

That does not mean life has to stop while buying a home. It simply means communication matters.

If a financial change is unavoidable or there is a question about whether something could affect the loan, checking with the loan officer before making the move can help prevent unnecessary surprises before closing.

10/20/2026

Building a new home does not always mean selling the current home before construction begins.

Depending on the borrower's financial situation and available loan programs, there may be financing strategies that allow construction to move forward while the current home is still owned. This can be especially helpful for homeowners who want to avoid temporary housing, multiple moves, or feeling pressured to sell before the new home is ready.

The right approach depends on factors such as current mortgage obligations, available equity, income, construction budget, and the timing of the planned sale.

Construction loan programs can vary significantly by lender, so working with a team that offers a broad range of construction and portfolio financing options can help identify a strategy that aligns with both the building timeline and financial goals.

10/18/2026

5.0 star review received on Experience.com for Carol Rasberry Millis by Irina K - I've worked with Carol for many years and I keep coming back to her. I know that I can trust her in finding the best route with either a new mortgage or a refinance or just to answer a question I may have. She is responsive at any time of day or night, very knowledgeable and I trust her recommendations.
I will continue working with Carol in the future.

Click to see all 195 reviews of Carol Rasberry Millis, Certified Mortgage Advisor | NMLS # 111994

10/17/2026

5.0 star review received on Experience.com for Carol Rasberry Millis by Eugene L - My experience with Carol has been phenomenal! Carol is incredibly warm, caring, and knowledgeable. Her expertise and experience was reflected in her able ability to help me find the right fit and navigate the process with confidence. Investing in my home felt fun, effortless, and secure.

Click to see all 195 reviews of Carol Rasberry Millis, Certified Mortgage Advisor | NMLS # 111994

10/16/2026

5.0 star review received on Experience.com for Carol Rasberry Millis by Myrtle C - I've enjoyed Ms. Carol working with me towards the purchase of my house. She was knowledgeable, patient and kind throughout the entire process, I truly appreciated her professional advice and expertise. Thank you so much.

Click to see all 195 reviews of Carol Rasberry Millis, Certified Mortgage Advisor | NMLS # 111994

10/16/2026

New post:

Most buyers treat "buy vs. build" as two separate paths, but there's a third option that often fits better: a renovation loan, which wraps the purchase price and the cost of the work into one...

Most buyers treat "buy vs. build" as two options. Renovation loans are the third way — one mortgage covering the purchase and the work.

10/15/2026

USDA loans are often associated with rural homebuying, but there is more to the program than many buyers realize.

The USDA Single Family Housing Guaranteed Loan Program is designed to help eligible low- and moderate-income households purchase a primary residence in eligible rural areas. Qualified borrowers may be eligible for financing up to 100% LTV. Both the borrower and the property must meet USDA eligibility requirements.

One important thing to know is that USDA eligibility is based on specific geographic boundaries. A property does not necessarily have to feel remote or agricultural to potentially fall within an eligible area. USDA provides an eligibility tool that can be used to check specific locations.

For buyers considering homes outside major urban areas, it may be worth asking a lender whether USDA financing is one of the available options.

10/15/2026

Your VA loan is the most powerful tool you bring to a Virginia Beach PCS — 0% down with no private mortgage insurance .

Relocating to Hampton Roads? Maximize your VA loan benefit with 2026 market data and local insights from a Virginia Beach mortgage expert.