New Home Financing
For new structures, the finance process is quite a bit different than getting a traditional mortgage. Traditional loans are typically put in place soon after the construction loan has been drawn down and closed out. Traditional loans provide the homeowner with many different options such as VA loans, 15, 20 and 30 year traditional mortgages, and FHA financing.
Because construction loans are quite different than a traditional mortgage, Barker and Son Homes provides a seamless process for their customers to first, “purchase” a new piece of ground, and then obtain a “construction loan” to build their custom home. Here are the high points..