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How to Pay
Paying us; "Draws" from Escrow Agent or Bank
Never pay in advance for any work. After each phase of construction, a portion of the total amount will be sent from your construction loan to Craftsmanship Homes as payments. The bank will send a neutral third party inspector at every draw phase of construction than release the agreed upon amount. Once the foundations are poured and inspected, the bank will send us about 15%. Once the frame is complete and inspected another 20% etc. The line by line breakdown is listed in the contract.
Construction Loan to Traditional Mortgage.
You will apply for a construction loan with almost no paperwork. The construction begins and we receive draws as stated above. Once the home is competed and you have the final occupancy, then the construction loan will convert into a traditional mortgage automatically. Hundreds of builders preform like this. You can get a loan from one of our listed brokers on this website.
Custom Vs Customization
We can make slight internal wall changes, See specs on the standard features. Custom changes start at $250,000 Plus the cost of the changes. 6 Month total time delay. This includes bringing your own vendors , or using your own materials during construction.
The Deposit is;
$2500 plus 1/10 of 1% of your total price.
Soft Draw
Once your loan is closed with the bank, they will send us about 7% of your total cost. This will cover your engineering, architectural, administrative and internal sales commissions, and real estate commissions.
Paying Cash
Before the home begins all the funds will be put into an interest bearing account with an escrow attorney. The homeowner will receive the interest amount. The money will then be released per the draw schedule as stated above. The third party inspector will come per the banks recommendations and will be randomly selected.
Disclaimers;
All information is subject to change without notice. We reserve the right to not build on any particular lot for any reason whats-so-ever (Equal housing opportunity applies). No information is guaranteed, including verbal or marketing material including in this website unless written in contract form.
