Understand your new home-loan options.
Building a new home to your exact specifications is one of the most exciting and rewarding projects you could ever undertake. We offer a number of construction loans designed to fit nearly every new home construction need. If you’re currently a homeowner, you could also consider using the equity in your existing home to finance your new home construction project. Contact our experienced mortgage loan officers for help choosing the path that’s best for your specific needs.
Find a builder.
Once you settle on getting a home construction loan or using your home equity to build a new home, there are several ways to find a quality home builder in your area:
- Contact your local chapter of the National Association of Home Builders.
- Get referrals from friends and family and from real estate agents who specialize in new home construction.
Check credentials before hiring
Hiring a builder is like hiring any other type of professional. Consider the following when interviewing builders for your project.
Does the builder:
- Have proven experience in building the type of residence you want?
- Meet state licensure and insurance requirements?
- Have a solid reputation in the community, including a good rating with the Better Business Bureau and excellent references from past clients, suppliers and local banks?
- Have a permanent business address?
Is the builder:
- The recipient of industry awards?
- Involved in professional associations?
Contact the state or county to verify there is no history of legal proceedings against the builder and that no legal proceedings are pending.