Your guide to new home financing.
If you’re considering buying a new home soon, or are already shopping for one, you’re not alone. The majority of today’s prospective buyers are also drawn to new construction.
Earlier this year, a survey found that 42% of shoppers are looking to buy a newly built home, while only 30% plan to purchase an existing home. A year earlier, only 24% of prospective buyers reported a preference for new homes, while 40% were looking for an existing home.
While shopping for your next home is usually more exciting than shopping for new home financing, you can’t have one without the other, so you’ll want to check out your options first. Here are some methods used to finance a new home:
When it’s time to apply for financing for a KB Home, the ideal lender is waiting. KBHS Home Loans was created to provide KB Home customers with a full array of loan options, including conventional, FHA, VA, and Jumbo mortgages. Low down payments and participation in state bond programs, combined with competitive rates and fees, add up to a smooth, simple experience and real one-stop shopping.
Contact us and let us know how we can help you.
Earlier this year, a survey found that 42% of shoppers are looking to buy a newly built home, while only 30% plan to purchase an existing home. A year earlier, only 24% of prospective buyers reported a preference for new homes, while 40% were looking for an existing home.
While shopping for your next home is usually more exciting than shopping for new home financing, you can’t have one without the other, so you’ll want to check out your options first. Here are some methods used to finance a new home:
- Construction-to-permanent loans, often called “one-time close” loans, automatically convert to a permanent mortgage when building is complete. While they’re more convenient than obtaining two separate loans, the loan’s rate may not be locked until closing.
- Construction-only loans must be paid off when new construction is completed. This type of loan may require a large down payment, and a buyer may have to find a new, different mortgage lender to finance the completed home.
Introducing KB Home and KBHS Home Loans
Founded in 1957, KB Home is currently one of the nation’s primary builders of energy-efficient homes. Buyers can look forward to creating their dream home at a KB Home Design Studio, or they may opt for a completed, move-in ready home.When it’s time to apply for financing for a KB Home, the ideal lender is waiting. KBHS Home Loans was created to provide KB Home customers with a full array of loan options, including conventional, FHA, VA, and Jumbo mortgages. Low down payments and participation in state bond programs, combined with competitive rates and fees, add up to a smooth, simple experience and real one-stop shopping.
Contact us and let us know how we can help you.