Construction Financing

Construction Financing

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Build Your Dream Home with Customized Mortgage Solutions

Building a home from the ground up is an exciting opportunity—but it requires the right financing to bring your vision to life. At Hoam Loans, we specialize in helping homeowners, builders, and self-employed clients secure construction financing tailored to the unique demands of building a new home or undertaking major renovations.

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What is Construction Financing?

Construction financing is a specialized mortgage solution that provides funds in stages as your home is built. Unlike a traditional mortgage, where you receive the full amount upfront, construction financing releases funds at key milestones throughout the building process.

It’s ideal for:

• Building a custom home
• Completing major renovations or additions
• Self-build projects
• Investment property construction

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How Construction Financing Works

Construction financing typically happens in two phases:

1. Construction Phase: Funds are advanced in stages (draws) as construction progresses, often aligned with key project milestones like foundation, framing, and completion.
2. Mortgage Phase: Once construction is complete, the loan usually transitions into a traditional mortgage with regular payments.

At Hoam Loans, we help you structure your financing to suit your project timeline and budget, ensuring smooth cash flow from start to finish.

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Benefits of Construction Financing

1. Flexible Funding in Stages

You only borrow what you need when you need it, reducing your interest costs during the build. Funds are released based on construction progress, helping you manage expenses effectively.

2. Tailored Solutions for Self-Employed and Complex Situations

If you’re self-employed, building on owned land, or managing multiple properties, we offer customized construction financing options with flexible qualification criteria. We work with lenders who understand non-traditional income and complex financial structures.

3. Options for Custom Builds and Major Renovations

Whether you’re starting from scratch, adding a significant extension, or taking on a large-scale renovation, we can help you find the right construction loan or combination of financing products to support your goals.

4. Interest-Only Payments During Construction

Many construction loans allow you to make interest-only payments during the building phase, helping you maintain better cash flow while your home is being built.

5. Expert Guidance Through a Complex Process

Construction financing can involve detailed paperwork, inspections, and lender approvals at each stage. We guide you through every step, ensuring you understand the process and have the support you need from the initial application to project completion.

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Why Work with Hoam Loans?

• Access to specialized lenders offering construction and self-build financing
• Customized strategies for unique projects, self-employed borrowers, and complex financial situations
• Clear, step-by-step support through the entire construction and mortgage transition process
• Personalized advice to ensure your financing aligns with your budget and timeline

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Whether you’re building your forever home, taking on a major renovation, or planning an investment property, Hoam Loans is here to simplify your construction financing journey.

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Contact us today to learn more about your construction mortgage options and take the next step toward building your dream home.

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