The Genisys Construction Lending Program offers multiple products to fit a variety of homeowner needs. For homebuyers who are building a new home or renovating an existing home, we offer an all in one, single close draw program that works with your builder to provide funds (draws) as your home is being built and then automatically converts to a permanent fully amortizing mortgage, over the remainder of the loan for the product chosen.
A no cost Pre-Qualification to provide to your builder that ensures you can qualify for the amount needed to build and finance your home.
Gather all necessary construction documents:
A fully executed all-inclusive construction contract. Including:
Complete Construction Plans and Specifications
Work with your chosen Mortgage Consultant to complete the mortgage application and closing process. Typical income and asset documentation will be required.
The construction process and therefore the loan draw process typically progresses through 5 general phases described below:
Final Stage
Selecting the right builder is one of the most critical steps in the new construction process. You should look for an experienced builder that understands what your goals and needs are for the project and has the resources to help you get there. Genisys helps in that regard by registering the builder under the Genisys Builder Partner Program.
*Good for 120 days from the date credit is requested. Must be for the same product and terms as your pre-qualification. Purchase agreement required to lock into your final rate.
