New flexible financing makes everything a lot easier.
Custom Construction loans have changed a lot lately.
There's a new attitude toward financing, and a new flexibility.
Your loan is custom-built - specifically designed to meet your needs before,
during and after construction.
You don't need a lot of cash. We can help you limit your out-of-pocket spending.
This is one way we make home building more affordable. Typically, a construction
project requires a ready cash flow to pay for work as it's completed - and to
cover unexpected expenses.
We can fold the financing for all of these expenses
into your full-service home loan. With a fully financed contingency reserve fund,
construction expenses are covered, so you don't need a lot of cash to get your project started.
During construction, you can stretch your dollar farther. While construction
is in progress, it's sometimes a stretch to make your initial loan payments and
still meet your current living expenses. Now you can get extra help, with an affordable
schedule of interest-only payments. When you choose interest reserve financing,
no payments are required until after construction is completed. With the right
construction loan, your monthly budget doesn't have to double.
You can get one loan to cover everything. One loan can cover it all, from a
lot loan to construction costs to long-term financing. When your construction
is complete, your permanent mortgage is already in place. It's a new kind of
flexibility that can save you the hassle of an extra approval process, as
well as extra closing costs.
You don't have to do it alone. We're here to explain everything up front.
We can review concerns specific to your finances, and then we'll help plan the best
loan available, before your project even gets started. During construction,
a certified loan consultant will be assigned to your account - a specialist
whose job it is to know you and your builder, to expedite payments and to help
you negotiate the unexpected.
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We're flexible with your builder, so your project stays on track.
We're flexible about when and how payments are released to your builder.
A regular cash flow can help keep your project on track.
You decide how involved you want to be. Before your loan even closes,
we'll sit down with you and your builder to negotiate a schedule of payments,
or "draw schedule." You can choose to manage each payment as work progresses,
or you can let us work directly with your builder.
When payments go smoothly, you'll see everything get easier. While work is
under way, regular progress payments can help cover your builder's expenses.
When financing is flexible, your builder can rely on our financial resources,
instead of their own line of credit. It's a smarter way to work that
saves builders time and money.
So many details, so many variables ... special one-step financing puts it all under one roof.
Building your own home can require a lot of patience. Our one-step financing keeps
money matters simple, with streamlined payments and consolidated approvals. During construction,
we'll keep builder payments flexible. A stable cash flow will help cut down on your
own out-of-pocket expenses.
One loan covers everything, from construction to permanent financing,
and you can even finance your lot purchase. It's an easy way to save money,
and a smart way to save time.
Below is how it works...
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