Redmond, OR Local Home Builder Explains How To Get Financing for a Custom House

May 31, 2024

Read Mountain High Builders’ (541-815-0855) guide to learn everything you need to know about the financing process when you want to get a construction loan for a custom-built home in Redmond, OR!

How To Finance a New Home in Redmond, OR

Are you planning to build a new home in Redmond, OR, but not sure how the financing process works? Check out Mountain High Builders' new guide! It covers all the details you should know before applying for a construction loan for your new custom-designed home!

>>Read all the expert tips here:

Construction Loans for Dummies

Mountain High Builders specializes in custom-built luxury homes in barndominum style. Understanding that most clients like yourself don't have previous experience in financing a new construction, the company released the latest guide to break down and simplify the process.

"Understanding the various loans, mortgages, grants, and financial resources available will help you make well-informed decisions and secure the necessary funding," a spokesperson for the company said.

Residential Construction Loans on the Rise

According to statistics from Cumming Group, residential construction loans were on the rise in 2023, with over $92 billion in one- to four-family construction loans reported by American financial institutions as of March 2023. Compared to Q1 2021 that was an 18% increase and a 5% increase from Q4 2022.

The Difference Between Construction Loans and Traditional Mortgages

Mountain High Builders' guide explains that contrary to traditional loans that pay a lump sum, construction loans are divided into installments as the work progresses. These types of mortgages cover costs like land acquisition, permit costs, and materials and are usually short-term loans with higher interest rates.

Alternative Financing Options

The guide details how to secure long-term financing and options like construction-only loans and construction-to-permanent loans. You can also learn about government-backed loans and how building an energy-efficient home can give you access to grants and financial incentives.

"Partnering with an experienced and reliable custom home builder like Mountain High Builders will make navigating the financing process a breeze, as they offer valuable insights and work with reputable lenders," the company spokesperson said.

About Mountain High Builders

The Bend-based custom home builder was founded 25 years ago and has a large service area covering neighborhoods like Redmond, Powell Butte, and Crooked River Ranch. In addition to the popular farm-style homes, the company offers the design and construction of shopdominums, remodeling and repair projects. As a local company, the team is up-to-date with the regional regulations and can assist clients in understanding the local building codes.

>>See pictures of these dreamy custom homes and learn how to get yours financed at:

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