Financing

Financing is the first step and can be the most important aspect of building your home. Finding the right lending institution, as well as the right loan is just as important as matching the floor and wall tile in your master bath. During this step you should get pre-qualified for a construction loan. This will give you a good estimate of how much money you can spend on your home and give you guidance in regards to the size and amenities of the house. It is always a good idea to shop your loan around. Because you are building a modular home, you will need a construction loan for the project. Also be careful not to be seduced when it comes to interest rates, some institutions may offer you a better rate, but you might be required to pay points at your closing, which might end up costing you more than a higher rate. It is the policy of Your Dream Home Inc. to only work with approved lenders in order to ensure that your project does not have any delays or problems. All lenders have local contacts and are very competitive and most importantly responsive to our customers.

TIPS:
•You should have the option of locking in your interest rate at the beginning of the project.
•Make sure you see an itemized list of the closing costs in a good faith estimate.
•Ask about how long it takes them to close a loan.
•Be sure to give yourself plenty of time on your construction loan, at least 12 months.
    
 
Contact us today!

Your Dream Home, Inc.
Custom Modular Home Builder

410-238-0447