How do I get started?
We will need to meet together and discuss your needs and ideas. Don’t worry, this is free.
Do I need to meet with a lender first?
No, let’s get together, discuss your ideas and options, and then we will set up an appointment for you to meet with our lender. They will be able to tell you how much you can qualify for and adjust your needs from there.
Do I need to have a lot before I meet with you?
No. We need to talk about what location you are interested in, then you will meet with our real estate person and they will help you find a lot that you like and in your price range.
What if I already have a lot?
That’s great. Having a lot will save time. We will build your dream home on your lot, no problem. You can meet with our architect and he can help catch all the views from your lot to get the best possible placement.
Do I need to have a plan before I meet with you?
No, we have some stock plans, or we can customize the home you desire to fit your taste and budget. We can make any changes on our stock plans, too.
How long does it take to build a custom home?
Time varies from project to project, but you can count on the process taking 3 to 4 months. Depending on how quickly you can make decisions, and exactly how custom you want your home to be, will be the two biggest factors. If you are working off of a floor plan that already exists it will usually take less time than if you have to create a floor plan and elevation from
What is a construction loan?
A construction loan is underwritten to last for only the length of time it takes to construct the home (about 6 months on average), and you are essentially given a line of credit up to a specified limit, and you submit “draw requests” to your lender, and only pay interest as you go. For example, if you have a $400,000 construction loan, you won’t have to start paying anything on it until your builder submits a draw request (perhaps something like $25,000 to start) and then you’ll only pay the interest on the $25,000.
At that point, you then get a mortgage for the house you’ve built, which will pay off the balance of your construction loan. There are no prepayment penalties with a construction loan so you can pay off the balance whenever you like, either when it comes due or before then (if you have the means). So in a way, a construction loan has a balloon payment at the end, but your mortgage will pay this loan off.