Financing Your Home
We're here to work with you.
The first step when considering building your luxury dream home is financing your house. You may choose to work with your own lender, or get in touch and we can refer you to one of the various home lenders who have helped our other clients.
If you’re financing your house on your own lot with your own design, there are more financing options, but possibly additional steps involved. Unless you are paying in cash, you will need to arrange for a construction loan.
Some lenders provide an interest-only one-step loan that is interest only while the house is being built, which converts to a mortgage upon completion of construction. The advantage is paying closing costs only once. Other lenders prefer a two-step process which requires the home buyer to take out an interest-only loan for construction, and refinance that initial loan into a regular mortgage when the home is completed. The short-term interest-only loan is normally at a prime-plus rate, while the later reflects regular mortgage interest rates.
One of the most important aspects to successfully building your luxury dream home is to make sure your lending institution has all the documentation needed and will be able to accommodate your build schedule. Clemens Companies staff will work with you to make sure you have everything you need to work through financing your house all the way to completed construction.
We’ve been involved in the process of financing custom built homes for over 30-years, and can help you through every step of financing your house.