Are you considering building a brand new home?
There are many reasons to consider new construction rather than buying an existing home. No matter if you've already purchased land or are looking for the perfect spot to build, a brand new home can offer a number of benefits, such as choosing your floor plan, design elements, and upgrades that suit your lifestyle. New construction is as move-in ready as it gets, which makes getting settled a breeze.
Every new home project is different, so talking to one of our experts is the perfect way to evaluate your options and learn more.
One-Step Construction Loans
Build a custom home or make a major renovation with HomeStreet Bank's One-Step Construction loan program. With this unique loan, you can roll all of the costs associated with construction, land purchase, and mortgage into one loan. If you've dreamed of designing your home from the ground up, this loan program will help see your project through.
Features of a One-Step Construction loan include:
- Ability to lock your rate before construction begins to avoid interest rate risk and fluctuations
- Land purchase may be rolled into the loan
- Float down options may be available, so you can take advantage of lower interest rates if they drop during the construction phase
- Allows up to one year to complete construction with a locked interest rate, even if rates go up!
- One loan approval process, one closing, and one appraisal — all upfront before construction even begins to give you peace of mind.
All loans subject to approval.