From the ground up
Construction Financing
Buying a home is one thing. Building a home is an entirely different process! At Mortgage Tech, we’ve personally built our own home – so we know the ins and outs, both professionally and personally. Building a home can seem like a daunting experience, but the process should be fun! Imagine getting to pick out every detail of the build and watching your dream home come together from the ground up. It’s amazing and scary all at the same time – but we’re here to help!
New Construction Process
There are a few different ways to buy a brand new home. Each process can be quite different, so it's best to work with a Mortgage Professional to ensure the process goes smoothly.
- Pre-Sale Construction
- Self-Build Home
- Builder / Contractor Build
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What is a pre-sale?
This is usually when you purchase the home before it is built (or during the building phase). You would obtain an accepted offer on your purchase and a deposit is paid to secure your purchase. The builder to developer floats the cost of the build for the entire duration and you pay them upon completion.
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Can I build my own home?
Yes! But there a quite a few things to consider when building your own home and only a few lenders allow for this. Among other things, you'll need proper licensing, budgets, plans, contractor quotes, warranty and much more. Let's chat & we'll walk you through the process.
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Can I hire a contractor to build my house?
Yes, and this is recommend. Working with a professional will help ensure a quality product. Make sure you do your research on the builder, check their credentials & warranties. Let's chat and we'll walk you through the process.
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