Thinking About Building Your Dream Home But Not Sure Where To Start?

Posted by GO Mortgage Team on 11/2/18 11:31 AM
GO Mortgage Team

Building a new home involves lots of moving parts. It may seem like a daunting task but with a strong home loan advisor to walk you through the process, it can be less overwhelming.

Here are a few steps to the process:

  1. GO Mortgage Single Close Construction Process Blog

    Builder Review - Find the right builder and have them work with your mortgage loan partner.
  2. Contract Preparation - Your loan officer will work with you to determine if the home you selected is within your budget, and with your builder to determine the cost to build your home and finance it. 
  3. Contract Signed - Once a purchase price is determined, you and your builder will provide a signed contract to your mortgage loan partner and the loan approval process will begin.
  4. Project Review And Underwrite The Loan - Your loan will be submitted for a construction project review and to underwriting department to approve the permanent portion of the loan. 
  5. Loan Closes - Once the paperwork is signed and your loan has closed, the construction of your new home can begin!
  6. Construction Begins – Your lender will manage the construction phase from ordering draw inspections, and any state required surveys and inspections.
  7. Move Into Your New Home – Congratulations!

GO Mortgage construction division has the experience and expertise to review and approve the project budget, plans, and specs, adding an extra layer of protection for our customers.

 

Learn more at gomortgage.com

Topics: single close construction loan, building a new house