SMART WAYS TO FINANCE YOUR DREAM HOME

Smart ways to finance your dream home BY MATT GRAY, MORTGAGE LOAN ORIGINATOR

“A nice view.” “The perfect location.” “Need more space.” “We’re downsizing.”

MATT GRAY

These are some things we hear from our residential loan customers as they describe their plans to build their forever home. Whatever it is that causes you to begin building your new dream home, we get it. AgCredit is here to help you make your dream a reality.

Start with a Solid Foundation Every good plan starts with a solid foundation, and securing the site on which you plan to build your home is the first step towards reaching that goal. If you already own your lot — that’s great! However, if you find that perfect spot and need help with financing — we have a program uniquely designed to help make that purchase a reality.

Our Lot Loan Program provides a way to finance your lot purchase now and build later. Lot loans are no-nonsense, fixed-rate loans that buy you the time you need to save money, finalize plans and build when the time’s right for you. Our program provides 85% financing and fixed rates for up to 10 years. If you’re paying on a current mortgage and taking the first step toward a future build, we also have the ability to amortize payments over a longer term to provide the flexibility of a lower monthly payment.

Watch Your Dream Become Reality You’ve spent months or years planning every aspect of your dream home – from acquiring land, seeking out the right builder, drafting plans, buffering your financial position to setting a budget. The time to get started has finally arrived. Engaging an AgCredit residential financing professional early in the process is the key to success. We can ensure your lending experience is a smooth process.

We have a couple of different Construction Loan Programs to serve your needs. After a review of your loan application and financial information, we’ll be able to fit you with a plan that best suits your situation and equity position. We’ll also work in tandem with your builder to process and close your construction loan. Once we close and your construction funds are ready, it will be time to see your vision begin to come to life. We’ll closely monitor the process through a series of construction inspection updates with each draw request from your builder. Depending on your loan program, we’ll contact you to finalize and modify your loan to fixed payments, if necessary. When your project is complete, it will be time to move in and enjoy your new home!

AgCredit’s residential experts are ready to guide you through the process of building your dream home. From acquiring your home site to hearing the moving truck pull into the driveway, we have some great options for you! We offer competitive rates, various terms and no limit on acreage. Call AgCredit to speak to your local representative today.