Depending on the project and the applicant, it is possible to finance the purchase and the construction of a home all in one loan, with as little as 10% of the acquisition costs due at signing. Click here for details.

 Unfortunately, this program does not work for everyone.

There are alternatives. Our financing team has created a program that allows for the risk to be spread between the builder, the buyer and the lender. Because of this shared risk, we are able to provide greater flexibility. Here is how it works:

Buyer – The buyer will determine the monthly payment, available cash and home that fit their needs

Builder – The builder will determine the cost to complete the project

Lender – Based on the buyer’s qualifications, the lender will determine the financing terms.

Hopefully the builder’s estimate meets the buyer’s product needs and fits the buyer’s monthly payment goal and available cash. If not, here are the alternatives:

o       Lower the cost of the project

o       Pay discount points to lower the interest rate

o       Click here to review an example

o       Lower the cost of the project

o       Builder/Seller carry a second mortgage until the project is finished based on the satisfactory review of the buyer’s pre-approved takeout loan. Click here to review an example.

o       The Builder/Seller takes the loan out in their name and sells the loan to the client based on a non refundable deposit and satisfactory review of the buyer’s pre-approved takeout loan. Click here to review an example.

o       Have the client wait until they qualify

o       The Builder/Seller takes the loan out in their name and sells the loan to the client based on a non refundable deposit and satisfactory review of the buyers pre-approved takeout loan

o       Click here to review examples