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What is Construction Financing? A construction financing loan needs to be secured before the project can begin. This loan will provide the funds that will be necessary to pay off the lot and make payments for the labor and materials as the home progresses. Monthly draws are made by the builder and paid directly from the construction loan. Unfortunately, a typical construction loan will require closing costs and monthly interest payments while your home is under construction. This all equals: More payments More forms and applications to fill out More closing costs Hidden Fees and charges THERE HAS TO BE A BETTER WAY... |
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We Have a Better Solution! One simple deposit is made before construction begins. One time finance fee rolled into the cost of the home package… No hidden cost No monthly interest payments during construction. This allows five to six months to sell your existing home without the worry of double payments. Building your new home is no different than purchasing an existing home with our construction financing. You supply a pre-approval letter from your mortgage company and obtain an end mortgage for the finished project. Deppe Homes will provide your mortgage company with all the necessary documents required for the end mortgage. The option to purchase or pay-off your lot with our construction financing will eliminate additional loans and closings. Avoid the hassle of complicated forms and loan fees usually required in construction financing. |
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