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Process and Financing:

PROCESS:

Messner Homes, Inc prides itself on creating fully customized homes for its clients.  To achieve this, there are several steps required to achieve this goal:

  • Lot selection.

  • Design home to utilize lot features (walkout, passive solar, and views)

  • Design home to customer's desires (# of bdrms and baths, closets, garage drs, ect…)

  • Create tentative budget (estimated construction cost)

  • Home modified based on budget (features added or removed depending on affordability of tentative budget)

  • Consulting Agreement to shore up budget (perform soils tests, engin. Foundation plans, and utility costs)

  • Finalize budget & Plan (final budget including all costs)

  • Construction Agreement
livingroom

FINANCING:

During lot selection, many customers start their financing process.  There are two very common approaches to financing your new home.

Type 1: Construction loan and separate permanent loan

ADVANTAGES: (quick and easy)

Fast: Usually can close within 4-5 weeks.

Locally managed

Easy to service

DISADVANTAGES: (costly)

More costs (two separate loans equals two separate loan origination fees and title work)

Still have to qualify for permanent financing when house is complete (market and qualifications may change)

Two full closings

Type 2: Construct-to-Perm loan

ADVANTAGES: (less expensive)

Lower interest rates (usually 1-2% less)

Lower costs (one closing equals 1 loan origination fee and title work)

One appraisal at beginning eliminating valuation issues at the end of construction

Lock in the rate at beginning of construction

DISADVANTAGES: (lack of competition for business)

Takes longer to get loan in place

More requirements for qualifications

Which ever way you choose to finance your construction project, Messner Homes, LLC will be there to assist  you in the process and help with any questions you may have