Throughout the last 20+ years, we’ve had the privilege of working with the best financing professionals in the industry. While we don’t assist in financing for custom homes, we do know a thing or two about it.
Who Can Provide Financing for Custom Homes?
A mortgage lender or loan officer is often the most qualified person to help you with financing for your custom home. That said, always be sure to check their experience with construction financing. Also, when choosing a lender, don’t get too caught up on selecting the lowest rate. Consider other factors, such as: speed, service, and ability of each professional.
Financing for Custom Homes
A great place to start is asking your builder for mortgage lender recommendations. As noted, we’ve worked with the best in the industry and have recommendations for our clients. You can also ask your friends or family who have experience building a custom home.
Once you’ve determined the best loan officer for the job, meet in person to discuss the details of your loan and complete the loan application. Factors that affect your loan application include credit score, checking and saving accounts, retirement funds, and other financial assets.
At the end of the day, you want to work with a lender who is experienced and trustworthy. Financing for custom homes is a big deal and the decision should not be taken lightly. If you’re a client of Morning Star, please be sure to talk with us before selecting your loan office. We would love to share our recommendations with you!