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

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
Allen and Kay from the Winterville Office were amazing throughout this process! They both have always been just a phone call or email away. Just like everything there are good days and bad days but the good days definitely outweigh the bad days. I would recommend Red Door to anyone. Yes there were delays and other problems that came up as you should expect but Red Door stayed on top of the problem and most of the time caught and fixed things before I even had time to contact them! These guys are awesome and if you're on the market please give them a call. Allen and Kay from the Winterville Office were amazing throughout this process! They both have always been just a phone call or email away. Just like everything there are good days and bad days but the good days definitely outweigh the bad days. I would recommend Red Door to anyone. Yes there were delays and other problems that came up as you should expect but Red Door stayed on top of the problem and most of the time caught and fixed things before I even had time to contact them! These guys...
Jumario A. , Winterville, NC
My amazing kitchen! My huge master bath with Jacuzzi! My huge loft area which will be the family center for my 4 girls. My foyer area with my amazing chandelier! Did I mention my kitchen! My tray ceiling in my room! LOL - the whole home is made so perfectly for me and my family. We were nervous about the building process and thought buying something already built was more ideal but we are so glad that we decided to build! Every detail, from the color schemes to the countertops, was picked out with love and attention to detail to just what my family needed! My amazing kitchen! My huge master bath with Jacuzzi! My huge loft area which will be the family center for my 4 girls. My foyer area with my amazing chandelier! Did I mention my kitchen! My tray ceiling in my room! LOL - the whole home is made so perfectly for me and my family. We were nervous about the building process and thought buying something already built was more ideal but we are so glad that we decided to build! Every detail, from the color schemes to the countertops, was picked out...
Rontesha J. , Winterville, NC
It went well! Kristie was great! She covered everything from the history of Red Door to the details of my "dream home"; I have two other builders to meet with, But, I feel like Red Door will be my 1st choice :) It went well! Kristie was great! She covered everything from the history of Red Door to the details of my "dream home"; I have two other builders to meet with, But, I feel like Red Door will be my 1st choice :)
Sandra T. , Raleigh, NC
The home building experience with Red Door was great from start to finish. Lisa was very helpful and had great advice when we needed it. Our building supervisor Jeff was not only very knowledgeable and helpful, but he is also one of the nicest guys we have met. I would highly recommend Red Door Homes to anyone considering building a new home. The home building experience with Red Door was great from start to finish. Lisa was very helpful and had great advice when we needed it. Our building supervisor Jeff was not only very knowledgeable and helpful, but he is also one of the nicest guys we have met. I would highly recommend Red Door Homes to anyone considering building a new home.
Robert T. , McColl, SC