Special Financing

FAQ: How do I pay for construction of my new house?

There are many different ways to accomplish the funding of your new home from all cash to all borrowed depending upon your personal goals. You are encouraged to discuss this with your McKenzie Collection Building/Design Consultant at one of our decorated models.

Some choose to pay cash as they go.

A more prevalent method is to use the equity from your existing home in the form of a home equity loan and pay that off when your home sells.

You may choose to pay a deposit perhaps from savings or home equity line of credit and have our company bill you directly for interest only during the construction of your new home. At the completion you may then choose the amount of a mortgage, if any, for closing on your new home.

A popular method is a construction/perm loan that funds the entire building project including lot while your existing home is on the market. When your new house is completed and your home has sold you then adjust the loan amount which becomes your new mortgage. You only have to qualify for the new construction/perm loan (without considering your existing home) plus you can lock in your future mortgage rate at the beginning of construction plus if rates go down you may take the lower construction/perm rate at closing. There is a lot of flexibility with this program.

Special Financing for Completed Homes:

Take advantage of below market rates currently as slow as 5.5% on immediate occupancy completed new homes. Due to our special lender relationship we are able to offer great rates to you. Please view their links below.