Building a new home
Many people dream about building a new home to their exact specifications. If you've been thinking about building a new home, it could be one of the most exciting and rewarding projects you'll ever undertake. If you're currently a homeowner, an alternative to a construction loan is to use the equity in your home to finance building a house. We offer a number of construction loans designed to help you finance the building of your new home. For information on construction loans, including the benefits of closing before construction begins, talk with a mortgage loan officer.
Find a builder
Once you settle on using your home equity or getting a home construction loan 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, 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 — you may want to work with someone who is highly qualified. Consider the following when interviewing builders for your project:
- Proven experience in building the type of residence you want.
- Meets state licensure and insurance requirements.
- 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.
- Recipient of industry awards and involvement in professional associations.
- A permanent business address.
Contact the state or county to verify there is no history of legal proceedings against the company and that no legal proceedings are pending.