How to Select a Builder for Your New Home
Mortgage Calculator | Car Loan | Credit Cards icon| Small Business | Your Money | Construction | Student Loan
money smart

How to Select a Builder

Selecting the Right Builder

Once you decide to build your own house using a licensed builder, your next step is to select the right builder for you. You will want to start by looking at several builders and some homes that they have built.

Steps in selecting the builder for your new house.

Look for builders in the Sunday paper.

Drive around and look at developments that you like.

Attend builder open houses. Examine the details in the model home.

Ask how long the builder has been in business.

Does the builder communicate effectively?

Ask to see the builder's license.

Does the builder have completed homes in the price range you are considering?

Ask to look at houses that the builder has completed that are similar to what you want.

Ask the builder for references and call them. Ask about on time completion and quality of work.

Construction Loan

Whet type of construction loan does the builder use? Some builders will get the construction loan in their name and sell you the finished house when it is finished. Other builders will require you to get the construction loan and have the lender pay the construction draws to the builder.


Ask the builder what bank he works with and then contact the bank to assure that he is in good standing. Construction lenders usually keep close tabs on the builders and generally if the bank is willing to work with the builder, the builder is probably sound.

Builders Association

Contact the local builders association. Is the builder a member in good standing?

Construction Draw Schedule

Loan Assumption Agreement

small business loan

Assumption Agreement  |  Mortgage Glossary  |  Money Tips  |  Site Index  |  Draw Schedule  |  Commercial RE  |  Privacy Statement

Equal Housing Lender Send mail to Webmaster with questions or comments about this web site. Community Credit 2007-2020 All rights reserved Site Index