The Mortgage You Need For a Newly Constructed Home

Posted by on July 25, 2013

new build home mortgageThere are plenty of advantages to building a new home for you and your family. New houses come equipped with the latest innovations and conveniences, they’ve got updated designed and features, they are much more energy efficient than older homes, and require much less maintenance for the first few years since everything is brand new. There are plenty of great neighborhoods throughout Alberta to build a new home in, like Calgary, Red Deer, Lethbridge and Medicine Hat. But before you put a shovel in the ground, one of the first things you need to think about is the financing you’ll require to have your home built and paid for. This is where a seasoned mortgage specialist comes into the picture.

Jim Black, AMP, is an independent mortgage specialist with years of experience helping Albertans secure mortgages for various types of properties, including a new build home mortgage. With the right team of professionals behind you, can make the process of obtaining a mortgage and making payments on your hew home much less stressful.  For instance, you can get pre-approved for a mortgage so you know how much you can afford to spend on the home.  Your interest rate can be locked in for the construction phase and you will have peace of mind for closing – knowing the financing is in place.

Finding the funds to pay for a new build is somewhat different than obtaining a conventional mortgage for a resale. With a newly constructed home, there are up to three potential loans associated with the property – one for the land, the construction phase, and the financing required for finishing touches (landscape, furniture, basement finishing) once the home has been fully built. Although this may seem complicated, it really isn’t, as your mortgage broker will deal with lenders who essentially combine all three loans into one mortgage.

Why Should You Choose Jim Black?

Jim runs Home Loans Alberta, which is a mortgage firm that is part of Dominion Lending Centres with lenders all across Canada.  Jim and his team have been assisting families in various communities across Alberta get the mortgage they need to buy a home. He is an accredited mortgage professional, and comes backed with plenty of experience in all sorts of branches of the mortgage field, including a new home mortgage. You’ll get personalized service form Jim and his team, helping you and explaining everything to you every step of the way.

When you’re considering building a newly constructed home, call Jim and his team today at (877) 394-9422 and see how they can help turn your dreams into reality.

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