Step 4
Financing Your Home

Most home buyers will need financing in order to purchase their new home. In most communities in our area only the builders are allowed to purchase lots. If this is the case, we ask that the home buyer secure a permanent loan commitment from their lender (we can provide lender recommendations as well if required). Upon the receipt of the commitment and down payment we will purchase the lot and begin construction using our construction loan. When the home is complete your permanent mortgage will help complete the purchase of the new home. The home mortgage community is now offering extended loan locks for buyers building their homes. That means that you can secure today's mortgage rates for closing on your home nine - twelve months later.

In other cases, you may purchase the home site - in that case you will need to secure your own construction loan. Today there are very attractive construction loan programs that also allow you to convert automatically into your permanent mortgage when the home is complete.