STEP 7 – Final Builder’s or Home Dealer’s Contract
- Sign the Builder’s or Home Dealer’s Contract, Floor & Elevation Plans and Specifications (all pages), and any other construction documents required.
- We will order the appraisal and you will need to pay for the appraisal out-of-pocket.
- The loan will close approximately 45 days after the appraisal is ordered
- The land will be paid at closing and your builder will begin construction.
- You will be making monthly interest-only payments during construction and up to completion, except for VA OTC Loans.
Please make sure to prepare for these payments.