FINANCE
Building a home is an exciting journey, and securing the right financing is a crucial first step. Construction loans are different from traditional mortgages because they are designed specifically for building homes.
The benefits of construction draw loans are undeniable. Funds are released in draws throughout construction, and you’ll pay interest only on the amount you’ve borrowed so far (not the full loan amount). Many loans offer one-time closing options to avoid duplicate closing costs, so the loan can be converted seamlessly from construction to permanent financing. Plus, you can lock in today’s rates before construction begins and build equity from day one as you own your lot and watch your home come to life.
Lake Michigan Credit Union, Michigan’s #1 construction lender, is proud to partner with Silverado Homes to help finance your dream home. LMCU specializes in construction loans with down payments as low as 5% and offers the preferred “One Time Close” draw loan that streamlines your financing from construction through to your permanent mortgage.
Their construction specialist, Donna Shene, is available to guide you through the entire process and answer any questions about how construction financing works. Contact Donna at
586-206-8229 to schedule a consultation and discover why LMCU’s construction loan expertise makes them the ideal partner for your new Silverado home.
With over 20 years of experience in mortgage banking, Matthew Thompson at Huntington Bank understands that finding the right construction loan in today’s changing market can be challenging. Since 2001, he has helped everyone from first-time buyers to seasoned investors secure financing tailored to their unique goals.
Matthew’s approach focuses on structuring loans that align with your individual needs. He’s committed to making your construction loan process smooth and transparent, ensuring you have the right financing solution for your new Silverado home. Contact Matthew to discuss your goals and discover how Huntington Bank can help make your dream home a reality.
Working closely with our representatives at Community Insurance Center, a local insurance company based in Oxford, we have designed a program to save you the headache of searching for and obtaining a Builder’s Risk Policy.
Contact Community Insurance Center for more information on a Builder’s Risk Policy.
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