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 home. We can help you finance a semi-custom build that will give all the benefits of a new home without having to build from the ground up!
Benefits of a New Construction Loan
For the borrower who wants a move-in ready option with features to match their desired taste
Your home buying journey begins here.
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Use our mortgage calculator to estimate your monthly payment.
Do you know how much house you can afford? Use our mortgage calculator to see your estimated monthly payments with different mortgage amounts, interest rates, and down payment amount.
Apply online now with our easy QuickStart App or talk to a licensed
Mortgage Loan Officer to review which loan is the best option for you.
or CALL NOW 866-719-1424
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.
You’re in the driver’s seat, we’re here to help.
Lending Redefined means you can get started on your schedule, in the way that works best for you.
Three great options for starting: