How Do I Finance My Lot/Home Package?

In today’s market the majority of Custom Home construction is financed through a construction-to-permanent loan. With flexible terms, highly competitive rates and fast closings, construction loans are the most popular choice for financing your new dream home. Our preferred lenders have a full range of the best financing programs available today and are dedicated to helping our customers enjoy a stress-free financing process. They can even pre-qualify you before you start your home search.

What is a Construction-to-Permanent Loan?

A Construction-to-Permanent mortgage allows you to finance the construction of your new home while it is being built. You will lock in your interest rate and settle on the loan before construction begins. During construction, the bank will make payments or disbursements to the builder at each stage of the building process based on a pre-approved draw schedule and inspections. When the home is completed, the loan will convert to a permanent mortgage and you will begin making regular mortgage payments.

Benefits of Using a Construction-to-Perm Loan:

Save time and money Construction-to-perm loans combine construction financing and mortgage financing into one loan. With only one closing, you save the time and additional costs of a second closing. Can offer security by including a loan rate protection option “rate lock or float down option.” Allows you to prepay without penalty. You are charged interest only on funds as you use them until the completion of your home then the loan will be refinanced into a permanent loan. Interest paid on construction-to-perm loans while the home is under construction is tax deductible on your current year taxes. Reputable and professional loan officers will be there to guide you through the entire loan process, providing the highest level of support and ensuring all your questions are answered.

Caruso Homes On Your Lot | New Homes in Maryland, North Carolina, Pennsylvania, and Delaware

Caruso Homes "On Your Lot" program combines the convenience of ready-made designs with the flexibility to customize options to build a beautiful home on the property of your choice. Our experienced Sales and Construction team will guide you throughout the entire process to ensure your home is built with Caruso Homes standards of quality craftsmanship you expect and deserve.

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Caruso Homes Testimonial - The Parks Family

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Caruso made it very, very simple. They sent us pictures, videos - constant contact and really good communication. We're very, very pleased with the different choices and options they gave.

– The Parks Family

On Your Lot Where do you Want To Live?

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