Construction loans
Building your future
Our construction experts will guide you every step of the way.
Construction loans
Our construction experts will guide you every step of the way.
Our construction experts will guide you every step of the way.
Our two-time close program adds more flexibility to home building. You have one loan during the building process and close a new loan at the completion of your home. A two-time construction loan is a huge advantage if you have any unexpected building expenses because you can roll them into the end-loan. In addition, more types of loans are available under the Two-Time Close program including FHA, VA and USDA. During the construction phase of your loan, you will be responsible for making interest only payments on the amount dispersed to the builder. Any money you put down will be used first and will not be charged any interest on that amount.
Talk to your Mortgage Loan Originator and get pre-approved.
It is time to find a builder and choose your home's layout and finishes. Choose the lot where your home will be built. Once these steps are completed, get a price quote for your completed home.
Submit the quote to your Mortgage Loan Originator. Hallmark Home Mortgage will request an appraisal of the lot and housing specs. Receive a final approval on your loan.
You will meet and sign paperwork to begin the building process. Construction can begin.
You home will be constructed in stages, and once these construction milestones are completed, the builder will request money draws from us. The four typical construction stages are: Foundation, Framing (underroof), Drywall and Completion. Hallmark will send an appraiser to the job site to verify each stage has been completed. Hallmark Home Mortgage has your back and will also get your approval before any money is released.
Your new home is now complete! You will have a closing to sign final loan paperwork. It is now time move into your new home!
New construction loans can be very complex, with many lending options available. At Hallmark Home Mortgage, we understand the options so you can be free from the hassle of the details. We handle each step of the loan process, allowing you to focus on your home, not your mortgage.
Minimum Credit Score
Up To
Loan-to-value (Based on End Loan)
COMPLAINT AND LICENSING INFO
Corporate NMLS:53441 | NMLS Consumer Access
Security & Privacy | Disclosures and Licenses
Hallmark Home Mortgage, LLC (NMLS # 53441) is an Equal Housing Lender. Hallmark Home Mortgage is not endorsed by any government agency. Reviews and comments have been submitted by customers voluntarily, are solely the views of such customers, and have been screened by Hallmark Mortgage LLC prior to publication in accordance with our guidelines. Customers were not compensated for their reviews/comments but were informed that the submittals may be used in Hallmark Mortgage LLC advertising. Hallmark Home Mortgage, LLC (NMLS # 53441) is not licensed to originate in all states. All rights reserved. NOTICE: All loans are subject to credit, underwriting, and property approval guidelines. Offered loan products may vary by state. There is no guarantee that all borrowers will qualify. This is not a commitment to lend nor an offer to enter into a rate lock agreement. Terms, conditions and programs are subject to change without notice. Certain limitations apply. Contact us for additional details. Not all offices are licensed in all states. Visit: https://www.hallmarkhomemortgage.com/disclosures for complete licensing information. Through UnitedHealthcare, UMR and HealthSCOPE Benefits creates and publishes the Machine-Readable Files on behalf of Hallmark Home Mortgage. To link to the Machine-Readable Files, please click on the URL provided: https://transparency-in-coverage.uhc.com
