Financing

Financing a home should be the first step in the building process for anybody. Financing a custom home is very different from financing an existing home or track home. You will need to deal with a bank that is experienced in construction loans. Be sure to ask them how much experience they have in this area. We recommend the experienced lenders listed on the right.

Even before you start looking at property it is important to determine how much house you can buy. Get pre-qualified so you know how much you can spend and for what amount you need to make the construction loan.

There are different types of loans:

• A construction-only loan, which basically lends you the money during the construction period and must be refinanced at the end of the construction cycle.
• A construction-to-perm loan, which is a construction loan for a fixed period of time that transfers to a permanent loan for 15-, 20-, or 30-year loan at an agreed-upon rate. This is the most common.

Tell your lender what your exact plans are for building a home. Let them know if you own the land, don't have land yet or are buying the new home and land as a package. Let them see the house plans when you get them. Also, talk to us and let us know where you stand with the loan process. Working together with the lender and builder can make things much easier. We will assemble a package for you with home plans, detailed specifications, and construction and draw schedules.

Once you’re registered as one of our customers, we will be happy to share these documents with you.