NEW CONSTRUCTION LOANS · 11 STATES
Whether you are building from the ground up or buying a new home from a builder, Duane helps you plan the financing in the 11 states where I am licensed.
Licensed in 11 states
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No-pressure advice
WHAT IT IS
New construction can mean a construction-to-permanent loan, where one closing covers the build and the long-term mortgage, or a standard purchase loan on a builder's finished home.
Timelines, draw schedules, appraisals and builder requirements all affect the loan. Getting preapproved early and talking with your builder makes the process smoother.
One closing, interest-only payments during the build, then the loan converts to a standard mortgage. Availability varies.
Purchase a finished or nearly finished new home with a conventional, FHA or VA loan.
Some programs offer extended locks to cover the build. I explain what is available.
Land you already own can sometimes count toward your down payment. Guidelines vary.
HOW IT WORKS
01
Know your budget before you sign a builder contract.
02
Construction-to-permanent or purchase, based on your plan and your builder.
03
The lender reviews the contract, plans, budget and builder.
04
Draws are released as milestones are inspected. The loan converts or closes when the home is complete.
LOCAL KNOW-HOW
Program availability can vary by state and by lender. I check what is offered where your property is located.
Virginia
New communities in Central Virginia, Hampton Roads and Northern Virginia offer both builder purchases and custom builds.
Tennessee
Growth around Nashville and in East Tennessee makes new construction a common path to ownership.
Georgia
Georgia buyers often choose builder communities around Atlanta, Savannah and fast-growing suburbs.
FAQ
Often yes, including one-time-close options on some programs. Builder and property requirements apply.
It depends on the program. Construction loans often require more than a standard purchase. I explain your options.
Plan a contingency. Changes can affect the loan, so talk to me before you approve them.
EXPLORE MORE
NEXT STEP
Tell me about your plan and builder and I will outline the financing. No obligation.
Duane Buziak, NMLS #1110647, Coast2Coast Mortgage, LLC, NMLS #376205. Licensed in VA, FL, TN, GA, NC, SC, MD, DC, WV, TX and KY. Equal Housing Lender. This information is educational and is not an indication of loan qualification, approval or a commitment to lend. Rates, programs and guidelines change and are subject to credit approval.
