Get Pre-Approved:Knowing your purchasing power can save you thousands of dollars when negotiating any contract to buy. Let Arrowhead Financial Group help you. Call (1-888-825-1177) or e-mail us for more information.
Knowing your purchasing power can save you thousands of dollars when negotiating any contract to buy. Let Arrowhead Financial Group help you. Call (1-888-825-1177) or e-mail us for more information.
Once you have thought about the type of home you want, it's time to look for a builder. But how do you choose one? First, the real estate section of your local newspaper is a good starting point to learn which builders are active in your area and the types of homes they are building. Your local Home Builders Association has a list of reputable builders who construct well-built products and comply with the HBA code of ethics. Local Real Estate Agents may also be able to aid you in your search.
An important criterion for selection a builder is the warranty provided on the home. Ask to see a copy of the written warranty. You need to know the time of construction once building permits are established. How many walk-throughs do you schedule during construction? Most importantly, ask for a list of names and phone numbers of previous customers and visit them. Also, you need to know what kind of service you can expect after the closing. Most builders make two service calls...the first one is after 30 days to 120 days after closing and the second is 11 months later - right before any one year warranties would expire.
When your builder has their own construction loan and all you have to do is obtain an end loan, you basically have only two options. You can take an extended lock...90, 120, 150, 180, or a 210 day lock. Or you can elect to float the interest rate and as your home is under construction, you can find out how many days are needed until completion and lock-in your rate accordingly. Keep in mind, the longer the lock, the more expensive it will be for you. Arrowhead Financial Group offers a wide array of affordable extended rate locks. And Arrowhead Financial Group will float you to a lower rate one time, free of charge. E-mail us or call us at (1-888-825-1177) for more information.
Obtaining your own construction loan can save you money on the purchase price. Usually, a builder that has their own construction loan has to build their interest onto the loan and into the sale price. By obtaining your own construction loan, you take back the control of paying the bills. You can usually negotiate a cost-plus basis with a builder. Arrowhead Financial Group offers a variety of construction loans to fit your needs.
Arrowhead Financial Group is here to help you make the right financing choice for you needs.
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