Financing

Red Door Advantage

Understanding On Your Lot Construction Financing for Your DREAM Home

Building your Dream home on your own land is an exciting prospect, one that promises to turn your vision of the perfect living space into reality. However, amidst the excitement of envisioning your dream home, the intricacies of construction financing can often appear daunting. 

But fear not, for we’re here to shed light on this topic and demystify the process of construction financing for on-your-lot Dream Homes. Through interviews and expert insights, we’ll explore the nuances of construction financing, providing you with the knowledge and understanding needed to embark on your custom home building journey with confidence.

Construction & Home Loan Financing

With our wide range of trusted lending experts, who are experienced in construction lending and well-versed in the Red Door Homes process, we’ll connect you with the right financial experts to make your dream a reality. Our experts will be happy to answer all your financing questions and help you save money, time, and energy in the process. So, let’s make your dream home a reality together!

Embarking on the journey towards your DREAM Home can seem like no easy feat. It can appear to be overwhelming, especially when it comes to financing. At Red Door Homes, we understand the challenges that come with getting a custom home loan, which is why we’re here to guide you through every step of the way.

Some financing options include:

  • Low to no down payment
  • Use Land as a Downpayment
  • Finance purchased property into your Loan
  • Conventional financing with as little as 3% down
  • No PMI
  • FHA loans 
  • Rural Housing (USDA) programs

Price Your Home.

Estimate your monthly payments for this home.

$
$
%
Yrs.
$
$
%

Ask About Home Loan Financing Today 


Contact our trusted lender One Trust, Eric Bowers at  910-240-9780 or click here to learn more about your home loan financing options.

How Does it Work?

  • Borrower applies for pre-qualification for a construction-to-permanent loan
  • Borrower identifies desired homesite and, if applicable, writes a sales contract to purchase the land
  • Borrower writes a purchase agreement with Red Door Homes for their new Dream home (this can be done prior to identifying a homesite)
  • A full loan application is made with a complete set of required documentation
  • An appraisal is ordered
  • Loan approval is issued and the construction loan closing is scheduled
  • Borrower closes on the construction loan and the land if applicable
  • Construction begins and funds on the construction loan are disbursed per the pre-determined draw schedule
  • Construction is completed and the permanent loan refinances theconstruction loan
  • Borrower moves in!

The Do's and Don'ts During Construction

  • DO save as much money as possible
  • DO try to earn as much money as possible
  • DO keep your credit history impeccable as it will affect your permanent loan interest rate
  • DO pay your rent on time and keep all your credit accounts current
  • DO pay for PERSONAL CHOICES over and above your loan amount out of pocket, as there is no guarantee we can increase your permanant loan amount.
  • DON'T quit your job while your home is being built unless your new job pays more money
  • DON'T buy new furniture, cars or appliances
  • DON'T move money from one account to another or consolidate or open new credit accounts
  • DON'T retire or pay off other loans or credit accounts without consulting your lender
  • DON'T get behind on your payments as this could affect your permanent loan

Hear from our Homeowners

It went very well. We are on step four with the land. It has been a great experience working with Red Door thus far. It went very well. We are on step four with the land. It has been a great experience working with Red Door thus far.
Reginald B. , Winterville, NC
We feel that Red Door was a great value for our money. The staff was professional and always answered our questions in a timely manner. We would definitely recommend this company as they worked with us to give us our dream home. We are very glad that we chose Red Door Homes!! We feel that Red Door was a great value for our money. The staff was professional and always answered our questions in a timely manner. We would definitely recommend this company as they worked with us to give us our dream home. We are very glad that we chose Red Door Homes!!
Elwood F. , Linden, NC
Thank you for checking in! Everything went well with our meeting with Jennifer. She was very professional, cordial, and attended to all of our questions. She was also kid friendly which was a plus since our three year old daughter tagged along! Thank you for checking in! Everything went well with our meeting with Jennifer. She was very professional, cordial, and attended to all of our questions. She was also kid friendly which was a plus since our three year old daughter tagged along!
Lyndsey M. , Fayetteville, NC
They are the most professional and courteous people that we know, they treated us like we was part of there family. Kept in contact with us made sure everything was going to our satisfaction. We just love them and we couldn't have asked for a better group of people to work with. They are so wonder in the office job sites and so courteous on the phone. There's nothing anyone can say bad bout Tom, Lisa, Pat, or any other staff that works there. They are the most professional and courteous people that we know, they treated us like we was part of there family. Kept in contact with us made sure everything was going to our satisfaction. We just love them and we couldn't have asked for a better group of people to work with. They are so wonder in the office job sites and so courteous on the phone. There's nothing anyone can say bad bout Tom, Lisa, Pat, or any other staff that works there.
G.A.A. , Bennettsville, SC
The Newport is a beautiful home. You get a lot for the affordable price. I love my new home. Overall it was a very exciting and pleasant experience. The Newport is a beautiful home. You get a lot for the affordable price. I love my new home. Overall it was a very exciting and pleasant experience.
Joann H. , Raeford, NC