Building a new home is rewarding and exciting. Understanding the home construction loan process is an important first step in your home building journey

The Construction-to-Permanent Loan process is similar to the process of a standard home purchase or a refinance transaction. But, unlike a purchase transaction for an existing home, a Construction-to-Permanent Loan involves determining the value of a home that is not yet constructed.

To assist the appraiser in determining the value of your new home, I request information on the planned improvements and construction costs. I also review the performance history of your builder to ensure a track record of success in on time and on budget home completions.

 To help you better understand how the Construction-to-Permanent Loan process works, I've provided this simple breakdown of the Construction Loan Process to help make your home building journey as easy as possible.

These are the items you should be aware of during the costruction loan process:

1. Loan Budget Estimate
2. Loan Application
3. Additional Docuements
4. Apprasial
5. Loan Processing
6. Loan Closing
7. Disbursements
8. Permanent Mortgage

     Troy Schuricht

7575 E Redfield Rd   Suite 235

Scottsdale, AZ  85260

480-305-8905 - office

480-393-8801 - fax

http://www.communityfirstfinancial.com/

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