If you are in the market to build a new home, Spring is typically the time you want to get started. Home building continues to improve across the country as the economy continues to stabilize for most Americans. Obviously, some areas of the country are seeing more home building starts than others, but overall, home construction is off to a pretty good start this spring.
With home values going up over the last couple of years, some people are selling their existing homes and looking to build new. Home construction loans and other home mortgages are seeing more flexible guidelines, which is making it more attractive to individuals to purchase land and build their new dream home.
When building a new home there are typically several steps when financing the complete project. In some cases, the home builder will finance the entire project through one of their preferred lenders. In other cases, you may want to get a home construction loan package that typically pays off the land cost and then has an improvement and construction allowance that will pay for services as they are completed by contractors. Once the home is finished, then the loan is rolled into a standard home mortgage.
Of course, one of the most important considerations is selecting a qualified home builder. Stone Creek Building is a custom home builder in Portland, Oregon that specializes in building custom homes on the clients land. They are a certified green home builder meaning they incorporate design elements, system and materials that create superior indoor air quality, use natural resources responsibly, protect land and lower water usage.