See how we can help you save more money than your builder’s lender.
A lot of thought goes into buying a new-construction home, from the small details to the big ones. So don’t overlook one of the most important details – your lender. Read on to see how mortgage brokers can make the buying experience financially better for you:
- You don’t have to use the builder’s preferred lender. Mortgage brokers can often offer a lower rate with fewer closing costs paid out of pocket.
- You have options. We have relationships with multiple lenders and can shop around to offer you the best loan.
- Special incentives aren’t always better. Often, a builder will roll those costs right back into your loan.
- You don’t have to go it alone. Consider us your personal shopper with your best interests in mind.
- We have access to multiple loan products and more competitive pricing.
Most people that borrow money for a home, whether it’s a primary residence, or investment property do so using standard 30 year fixed or adjustable interest rate or conventional mortgages. This was not always the case though. In the, “good old days“ we used to build our own homes or pay for someone to build it for us. The good news is we still can!
If the borrower qualifies, they are able to get a loan that is meant for the construction of a new home. The terms aren’t usually quite as favorable as that of a typical conventional loan or most home purchase mortgages however. This is due to the increased risk that lenders must take on in order to make this type of program possible. Don’t let this scare you off from accomplishing your dreams though! Most borrowers simply refinance out of their construction loan once the home is finished being built and they have moved in. If they qualify, borrowers would then enjoy the nice, favorable terms of a standard mortgage loan on the home of their dreams.
To find out which loan program is best for you, call us today or simply fill out our web form above. You may also click the link below.
FINANCIAL DISCLOSURES: MakeWay Mortgage Inc. is a mortgage broker who is not an agency of the federal government, nor affiliated with your current lender. This is not a commitment to make a loan. All approvals are subject to underwriting guidelines and eligibility. Underwriting guidelines include but are not limited to: debt to income ratio, loan to value ratio, acceptable credit and or income history, property type, current homeowner’s insurance, equity position, property type, number of units, financial reserves, bank statements, financial statements or tax returns, insurance, occupancy type, number of financed properties, down payment, source of funds, Debt Service Coverage Ratio, rent history, taxes, etc. Call to secure your pricing today!