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Financing

Simplify your home construction process with our simple financing options.

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At Hedgefield Homes, we understand that finding the right financing option is an essential part of your home building journey. That's why we offer two distinct financing choices to suit your needs: One-Time Close Loan and our In-House Construction Financing. With these options, you can confidently embark on your dream home construction while ensuring financial flexibility and convenience. Let's explore each financing option in detail:

 

Option 1: One-Time Close Loan

This is a great option for those who meet the qualifications with the lender. 

  1. Simplified Process
    With One-Time Close Financing, you will work with a trusted lender who will handle both the construction loan and the permanent mortgage. This eliminates the need to apply for separate loans and saves time and effort. 
  2. Competitive Rates
    Our preferred lenders offer competitive interest rates, ensuring you receive the best possible terms for your home construction loan and permanent mortgage.

 

Option 2: In-House Construction Financing

Our In-House Construction Financing allows you to obtain financing directly through us and transition to a traditional lender once construction is completed. This is a great option for those who don't qualify for the One-Time Close option.


  1. Simplified Process
    Our in-house financing process is designed to be simple and easy for our customers. We offer personalized assistance throughout the entire process, from pre-qualification to closing, to ensure a smooth experience. 
  2. One-Stop Shop

    By using our financing, customers can streamline the homebuilding process by having all of their construction financing needs handled in-house, saving time and reducing stress. This eliminates the need to wait for a third-party lender to approve the loan, which means the project can begin sooner

  3. No Monthly Payments During Construction
    Customers do not have to worry about an additional monthly expense during the construction of their home. 

In-House Financing FAQs

What is Hedgefield’s In-House Construction Financing?

For qualifying customers Hedgefield is able to secure in-house construction financing, with no lender fees and no additional cash out-of-pocket. This means you obtain financing directly from us during the construction phase. Once construction is complete, you transition to a traditional lender for your permanent loan.

What are the qualifications?
  • Max 90% Loan-to-Value of completed construction - including land.  
  • Typical income, credit and property appraisal qualifications apply.
  • Cash reserves may be required.
What are the costs?
  • Interest during construction is charged at wall-street prime plus 1.5%, the typical construction loan rate. This will be rolled into the loan.
  • The title and closing fees will be paid twice (once at interim and once at final closing), which typically amounts to $2,500 - $5,000. 
What are the benefits?
  • Simple process with a smooth transition to a traditional lender at completion.
  • Faster home building process. Our financing eliminates the need to wait for a third-party lender to approve the loan, which means the project can begin sooner.
  • No extra monthly payments during construction. This helps you to remain in your current home without having to make additional payments while your new home is being built.
  • There are no lender fees, or origination fees.
How does the transition from in-house financing to a traditional lender work?

After your home construction is finished, your permanent lender will refinance the balance of the construction loan into the permanent mortgage you have selected. 

Do I have to use your preferred lender for the permanent loan? 

We understand that some homeowners may have unique financing preferences. If you wish to work with a different lender for the permanent loan, we can explore that option.

Why do you offer it if you don’t charge for it? 

Simply because it helps us to sell more homes. It enables customers with specific requirements more options in their financing decision. 

What are the risks? 

If your credit situation changes dramatically during construction (job loss, major out-of-pocket expense or purchases), and you cannot qualify for a permanent loan, you could lose the property.  This is the case with any construction loan or two-time close program. 

Please note that the terms and conditions of our in-house financing options are subject to change. Meeting certain eligibility requirements are necessary to qualify for financing options and are not guaranteed. Any estimates provided are intended as estimates only, not to be construed as binding quotes. The actual terms, rates and other financing details may vary based on individual circumstances and creditworthiness. 

Ready To Request Pricing?

 

 

Brian Portrait-Small (1)-2
Contact Brian with any questions
(817)385-7775
Our Main Office

410 Shops Blvd, Suite 200, Willow Park, TX 76087