It’s no secret that the current housing market has certainly fallen on hard times. No one can deny that home values have gone down on a national level and you may be thinking this is a bad time to make your dream come true. It’s hard to believe, but now is the best time to build because of the current housing market. Interest rates are currently at historic lows. Plus, contractors are very competitive right now. Why not take advantage of the current situation and use it to benefit you in the long run?
Relax and don’t worry. Historically, real estate values have always risen over time and no doubt will again in the future. Many places in the Midwest and throughout the country have not been hit as hard as other locations portrayed on T.V. When the market does rebound, the value of your new house will rise and continue to do so over time. You will find yourself in an excellent equity position and look back and thank yourself for creating real wealth!
Once you have met with your new home consultant, your new home loan application will be processed by Lincoln Financial, our loan company. No need to ask a number of lenders if they will allow you to build your own home, our construction loan company will work with you directly. This is not some company that we hope you can get a loan with, but a company that we own and operate. Your loan will pay all the costs associated with building your new home including your land, materials, labor, and closing costs. You will be approved for the construction loan before you make any commitment to build your home.
Our team of professionals will assist you in the planning of your new home. Once approved for the construction loan, it is time to figure out exactly what you want in your new home. If you don’t already have land, one of the first planning steps is to find a great location. Our new home consultants can help answer questions when it comes to finding the right location to build your new home. This is one of the most important parts of owning a new home so we have professionals available to assist you in every phase of planning the home to be just right for you.
Once you have selected the site to build your home, it is time to start designing your new home. Our design specialists will help you create a home that fits your lifestyle, budget, and needs. Our construction consultants will meet you on the site you have selected and make sure there are no unexpected surprises and to be sure the site compliments your house design. When you meet our construction consultants, you will be given a detailed list of qualified sub-contractors that you can choose from to build your home. You get to decide who is going to work on your home, but we give you the knowledge and support you need along the way. You will also come to our showroom to make style, design, and color selections with a specialist who has helped hundreds of customers just like you make their home become a reality.
Once the planning stages are done, we will schedule the closing of your construction loan at a location near you. You get to put your new home plans into action. Now the fun starts! You get the satisfaction of seeing your dreams of new home ownership unfold in front of your eyes every day. Our construction consultants are there to answer any building, budgeting or contracting questions that may arise and will visit your job site often. Because we are the lender, we too, are invested in this house as much as you are. Therefore, we want you to succeed and will help you stay on task and in budget throughout the build. Remember, you are never alone.
You won’t need to worry about arranging the permanent financing of your new home. Lincoln Financial will handle all the details of your permanent loan financing so you can focus your efforts on completing your new home. Just like the planning steps in building your home, Lincoln Financial will tailor your permanent financing to fit your financial needs. Lincoln Financial is a mortgage broker that has access to many different lenders with many different loan programs so you can make the financing of your new home what you need.
There are many specific details in any home building process that will be unique to you but this is the basis of our system of home ownership. To find out how you can enjoy the many benefits of home ownership by building a Homestead Home just complete the contact information form on our website or call us today at 888-200-4460
At Homestead Homes, we have our own construction loan company so you don’t have to search for lenders that will approve you for a loan to build your own home. We have been financing our customers’ construction since 1997. Our new home consultants and mortgage professionals will work with your personal financial situation so that if you are unable to qualify for a loan today, we can show you how to improve your credit position to qualify at a later date. If your credit isn’t sufficient today, we’ll outline the things necessary to get credit approval at a future date.
Since we also provide the financing to build your own home, we have a vested interest in your ability to complete the home and get a permanent mortgage to pay off the construction loan. We won’t just deliver your materials and leave you to figure out what to do with them. We will guide you every step of the way until the completion of your home. From site planning, budgeting, and subcontractor selection, to technical support, we are there. Throughout the building process, our construction consultant will be calling on you to see how it’s going, reviewing your budget with you, and will be conducting site visits to check on the progress of your new home. If anything unexpected comes up, he is just a phone call away.