Building a home is exciting. It also has more moving parts than buying one that already stands. A good plan keeps things smooth.
Know the basics. Construction financing helps pay for building a home. Some programs combine the building stage and the long-term loan into one path. Ask your loan officer how yours would work.
Choose your path. Do you own land, or do you need to buy it? Do you want a custom design or a builder’s plan? Each choice changes your steps.
Pick your builder with care. Ask for past work, references, and a clear timeline. Talk to people who have built with them before.
Make a budget with room to spare. Building can bring surprises. Weather, material delays, and changes all happen. Leave space in your plan.
Gather your papers. Expect to share income records, bank statements, and plans for the home. Your lender will give you a full list.
Ask questions about the process.
- How are payments handled during the build?
- What happens if the timeline changes?
- Who inspects the work along the way?
- When does my long-term loan begin?
Stay in touch. Regular check-ins with your lender and builder help you catch problems early.
If you are a veteran or service member, ask how this works with your loan type. See our VA construction loan page or visit Mendenhall Mortgage.
About the author: Lance is a Combat Army Veteran and loan officer at Mendenhall Mortgage (NMLS #1646876), serving Utah and Florida. Call 801-602-3550 or email lance@tfh.me. Office: 12 West 100 North, Suite 201A, American Fork, UT. Not affiliated with any government agency. All loans are subject to approval.
