One closing or draws. The loan type you pick sets your timeline and paperwork.
Builder Connect Group Your lot report
{{lot_address}}
 

Hi {{first_name}},

There are two common ways to finance a build on land you already own, and which one you choose changes how many closings you go through. Here is how they differ for {{lot_address}}.

One-time close
How it worksOne loan and one closing. It covers the build and converts to your mortgage when the house is done.
What to askWhether the rate can be locked before construction, and how the lender values your lot.
Fits you ifYou want one set of fees and one closing.
Cash draws
How it worksA construction loan pays the builder in stages as inspections pass. You then refinance into a permanent mortgage.
What to askWhat each draw inspection costs, and what rate applies when you refinance.
Fits you ifYour lender or plan calls for staged funding as the build progresses.

Why it matters for your lot

  • Many lenders will count the lot you own toward the down payment. Ask yours how it values {{lot_address}}.
  • Lenders look at the flood zone. At {{flood_zone}}, ask whether flood insurance is required and what it adds to your monthly payment.
  • Your builder needs a lender approval before a start date is real, so this is the step that most often sets the timeline.

You do not have to pick today. You do need to talk to a lender before you sign with a builder, because the loan type can narrow which builders fit.

If you do not have a lender yet, we can introduce you to one. Asking is not a commitment, and you can use any lender you choose.

Ask for a lender introduction

Jacob Dow

Builder Connect Group | CB&A, Realtors
(346) 273-1143 | jacob@builderconnect.net

Builder Connect Group represents you, the buyer. The builder pays our fee, and going direct to a builder does not lower your price. We are not a builder and we do not build homes.

Details on lot data: flood zone, utilities and permit figures come from public county records and can be out of date. Confirm anything that affects a purchase or a build with the county, your lender and a builder.

You are getting this because you asked for a report on {{lot_address}} or we matched you to it from county records. Unsubscribe | TREC Information About Brokerage Services | Consumer Protection Notice
Builder Connect Group | CB&A, Realtors | [MAILING ADDRESS TO BE SET BY JACOB]