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Not all lenders are created equal. Our Component Crafted building process is unique in the field of residential construction.
Consequently, the lenders who support this process must also have specialized techniques and procedures. We are licensed
mortgage brokers in the Commonwealth of Virginia and believe we understand lending as well as any builder can. When we recommend
a lender to work with you on your dream home, we do so only after careful consideration.
You will need a two stage mortgage loan to build and occupy your new home. These loans are generally referred to as "construction
/ permanent" loans in the industry. While this type of loan is common, the details of how the loans are funded, the
loan to value requirements, the total cost and numerous other important factors vary greatly.
The "construction" phase of the construction / permanent mortgage loan finances your land acquisition, land
improvements and house construction, along with agreed upon other costs which are indirectly related to these activities.
Funds are generally advanced against the loan directly to the builder or other major contractors as work progresses, and is
verified as satisfactory by independent construction inspectors who are retained by the lender. The house construction portion
of the loan must be structured to directly link to our Component Crafting process because components are assembled and installed
at the job site in a fixed sequence and very quickly. Delays by the lender will bring the process to a halt and cause you
unnecessary additional expense.
Because our Component Crafting process adds significant value to your land and home very quickly, it is quite common for
our lenders to be able to offer you a loan which will finance 100% of the cost of your land acquisition, land improvements
and house construction.
You may wish to have other contractors install improvements to your land or home after we have completed our part of the
home construction process. A swimming pool, an elaborate deck or landscaping package, or an in-home theater are examples
of additional improvements which you may wish to install independently of your contract with us. At your request, all of
these can be factored into the construction portion of your mortgage loan by the lender.
When your home is ready for occupancy, the lender will automatically convert your loan to a "permanent" mortgage
loan. This phase of the loan can take many forms depending on your financing needs. The most common permanent mortgage loans
have a thirty year term and a fixed interest rate. However, there are literally thousands of different forms of permanent
loans which can fit virtually any financial situation. The Lenders we recommend will guide you in finding the perfect loan
for your needs.
The links below will transport you to the web sites of Lenders we recommend without reservation for financing your dream
home project. When you have reviewed their detailed information, use the back or history buttons in your browser to return
to our site.
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| Click to visit KBank |
Karen Radisch
Sr. Vice President
Construction Permanent Division
1350 Blair Drive, Suite G
Odenton, MD 21113
(410) 674-4669 x 14
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