Benefits of a New Construction Loan

If the words “modern” and “move-in-ready” appear on your wish list, you might be a great candidate for a new construction build. Take the hassle out of managing the logistics of a fully custom build, and work with our network of preferred builders to find a pre-built home that checks off all of the boxes!

Benefits of a New Construction Loan

For the borrower who wants a new, move-in ready option without the hassle of a fully custom build.

Variety of Financing Options

Variety of Financing Options

A new construction home can be financed with a variety of loan programs including low and no down payment options. Work with our experts to determine the best fit for your purchase.

Shorten Your Timeline

Shorten Your Timeline

Cut down your timeline by choosing a new construction home designed by a builder rather than working through the logistics of a custom build.

Customize Your Dream Home

Customize Your Dream Home

Work with a builder to choose custom cosmetic features before moving in.

Work With A Preferred Builder

Work With A Preferred Builder

Our loan officers have worked with the best builders in the business. We can help you identify new builds in your area that are available for financing.

Your home buying journey begins here.

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Frequently Asked Questions

1. Is there a way to buy a new construction home with no money out of pocket?

There is, covering the purchase price is key which can be done with no money down USDA or VA home loans. An additional option is combining down payment assistance or grants for 100% financing. Although these cover up to 100% of the price, there are also closing costs, the first year of insurance(s), and set up of escrows. Each of these loans allows the seller to pay these costs. So, with the right up-front strategy, the buyer may bring no money to closing and maybe even get the earnest money deposit back at closing.

2. With a new construction home, is there the ability to choose options in the home?

This depends on the stage in which the home is purchased. If the house is already complete, the options are minimal to none. If buying the home in the “buyer preference stage,” then choosing colors, countertops, and flooring could be options.

3. Can I get approved for a mortgage loan up-front prior to construction?

Yes, we will fully underwrite your file for credit, income, assets, and even a “subject to appraisal” so that both the buyer and builder have confidence in closing once the home is complete.

4. Do you offer financing for fully custom builds?

No, we offer financing options for new construction homes that are in the works or currently offered by a home builder. That doesn’t mean that customization is off the table. Many builders will allow you to choose custom preferences for cosmetic features like countertops, specific fixtures, flooring, and etc. We do not offer financing for fully custom new construction projects.

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