Building Your Home
Ready to build your dream home? We can help.
The traditional process of connecting with a real estate agent and touring existing homes is a great start for many families. Others prefer to customize their dream by building their own home. For these home buyers, nothing compares to the thrill of imagining, designing, and finally constructing your own flawless home. If this sounds like you, there are many ways to make this dream a reality.
What are my options?
Construction Loan
The first and most common option for financing your new home is to choose either a construction loan or a construction to perm loan. With these types of loans, there is a one-time closing cost payed at the start of construction. After this, you pay only interest for the duration of the construction phase. Once your home is completed, your construction loan automatically converts into the mortgage you’ve selected.
Existing Equity
If you are already a home owner, you can also elect to use the available equity in your home to finance your new construction or renovation.
One step at a time.
There are many steps that must be taken during the many home construction phases. Your Mortgage Consultant will help walk you through each of these actions as you make your way through the process. To help get you started, here are a few of the most basic responsibilities you will have:
- Meet with a Mortgage Consultant — You will need to set up a meeting to discuss your financing options and the roles you will play during the construction of your home.
- Find a builder — Using a variety of free resources, it will be your responsibility to research, locate, interview, and select a builder.
- Plan, plan, plan — It’s no secret: New home construction is a challenging and very rewarding process. That means that you will need to set realistic goals, stay on top of your responsibilities, and have detailed plans for every step of the course.
Where are you in the home building process?
Now that you know the process at a glance, your Mortgage Consultant will help navigate next steps. Below are some helpful questions to consider as you explore a custom home build option:
- Are you prequalified for a construction loan?
- Do you know what you can afford?
- Are you looking for a lot to build on?
- Do you own a lot to build on?
- Are you ready to build NOW?
- Are you interested in building but still considering purchasing an existing home?
To learn more, and to take the next big step towards home construction, schedule an appointment with one of our professional Mortgage Consultants today. We have experts ready to personally help you.
