Hassle-Free
Financing Options
We’ll work with you every step of the way to ensure you the best financing package possible.
FINANCING YOUR HOME
Ready to start construction for your new home but not sure where to begin? We're here to help
Building a new home one is of the most significant investments you'll ever make. While you can always pay cash for your new home, many buyers choose to finance.
If you already own land, the good news is, you may be able to use land-equity in lieu of a cash down payment! If you plan to finance your Build On Your Land purchase, we highly recommend you obtain a Construction to Permanent Loan, which offers the ease and convenience of a one-time loan closing.
A Construction to Permanent loan provides financing for both the land and the home and you will have the option to amortize this loan for up to 30 years. Whether you own the land or are financing the land, you can finance your home purchase with this convenient loan.
CHOOSING YOUR LENDER & FINANCING THE LAND PURCHASE
As you start this journey you will need to find an experienced lender and loan officer, skilled in assisting clients looking to finance this type of home construction project. At ValueBuild Homes, we regularly work with several reputable mortgage lenders who can help you. Explore our Financing partners here.
GETTING APPROVED
The Construction to Permanent loan approval process is similar to that of the standard mortgage loan process. The lender will review credit history and credit score and you'll be asked to provide documentation listing your income, assets and liabilities.
CLOSING THE LOAN
Both you and your builder are responsible for signing documents in order to keep the process moving. Once all documents have been signed, funds will be issued in "draws" throughout the process. After construction loan closing, construction begins! During the construction process, you will be responsible for making interest-only-payments on the monthly loan balance.
TRANSFERRING TO A PERMANENT LOAN
Once construction of your home is complete, your lender will disburse the final "draw", the final inspection is completed and the Certificate of Occupancy is issued. Once all of your construction payments have been recieved, you are ready to move-in and, shortly after, your loan will begin transferring to a permanent loan. Upon completion of the transfer process, you will begin making your monthly principal and interest payments.
