A Method To Match Your Needs

Three Common Ways to Finance Your New Home


When you get your own construction financing, you’ll enjoy some savings versus conventional financing. Work with one of the community lenders our past customers have had a good experience using. Typically you will need 10% of the total cost of your new home to qualify, and you can finance your lot as part of your construction loan.

Once construction is complete, your construction loan rolls over into a permanent mortgage loan. Some lenders will set the permanent interest rate before you start construction, protecting you from the risk of rising interest rates.


A second approach would be for us to get the construction loan from our bank to either build your home on one of our neighborhood lots or an available lot that we will buy for you. Once your home is complete, you close on it with a permanent mortgage loan at whatever current interest rates are at that time.


The third way is for you to pay “progress payments” during the course of construction without outside financing. Once construction is complete, you own your home outright.

Many Evergreen Homes’ buyers have had positive experiences with our preferred lenders. These are competent professionals who get timely results and have great track records for securing clients the best rates and terms, whether using conventional financing, including VA and FHA loans, or a construction loan.

Need help finding the right lender?

Simply call Chris at (360) 624-3116.

Frequently Asked Questions

We normally require a lot hold or design services deposit of $5-10k depending on the size and complexity of your project. That deposit will be fully applied to the purchase price of your new home.

Although we regularly obtain the construction loan for our customers, in some cases you can save money if you obtain the loan instead. Whether you get the construction loan, or you take out a mortgage once the new house is completed, we suggest you talk to at least 2 lenders to make sure you are getting the best possible terms. We are happy to recommend several proven lenders, depending on your circumstances.

This can result in a change order, and they are typical on most of the homes we build. They usually involve additional cost, which you will be expected to pay before they are acted upon. But sometimes they result in a cost savings, which will be credited back to you.

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