Construction Financing

At VisionMaker Homes, we understand that building your dream home is one of the biggest investments you'll make. That's why we're committed not only to building a quality home but also to helping you navigate the financing process. Our goal is to make it as straightforward as possible by connecting you with the right lending partners and securing the best possible solution for your single-family home or a multi-family project.

 

Here's an overview of the construction financing options available to help you find the right fit.

 

Construction-to-Permanent Loans: The All-in-One Solution

A construction-to-permanent loan is one of the most popular and efficient ways to finance new construction. This type of loan wraps all the costs—the land, materials, labor, and even permits—into a single loan with a one-time closing.

 

How it works:

• One-Time Close: You only go through the closing process once. This saves you time and money by eliminating the need for multiple sets of closing costs and fees.

• Interest-Only During Construction: While your home is being built, you'll typically make interest-only payments on the funds that have been drawn to pay for construction.

• Automatic Conversion: Once construction is complete, the loan automatically converts into a long-term, conventional mortgage. This eliminates the need for a separate mortgage application and another closing.

 

This streamlined approach simplifies the entire process, allowing you to focus on building your new home with peace of mind.

 

Land Loans

If you already own your land or need to purchase a lot before construction begins, a land loan can be an essential first step. Land loans are designed specifically to finance the purchase of raw or undeveloped property.

 

What to know:

• Down Payment: Land loans often require a higher down payment than traditional mortgages, sometimes as much as 20% or more, due to the lender's risk.

• Higher Interest Rates: Because the loan is not secured by a physical home, interest rates tend to be higher than a traditional mortgage.

 

Investor and Multi-Family Construction Loans

For those looking to build residential properties for investment purposes, such as single-family rentals or multi-family complexes, we have access to a variety of financing options. These loans are specifically structured for real estate investors and developers.

 

Key features:

• Tailored to Your Project: We connect you with lenders who specialize in funding investment properties, ensuring the loan terms align with your project's scope and financial goals.

• Flexible Terms: Unlike owner-occupied loans, investor loans are designed to accommodate the unique cash flow and development timelines of a for-profit construction project.

• Diverse Lender Network: We can work with lenders who offer a range of products for multi-family construction, including short-term bridge loans and long-term financing.

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Let's Find the Right Financing for You

The best financing solution depends on your individual circumstances. Our team is here to guide you through the options, explain the pros and cons of each, and help you prepare for a successful application.

 

Ready to get started? Contact us today for a personalized consultation, and let's bring your vision to life.