Construction Road Map

Planning

1. Get pre-qualified with a lender that can do both construction and permanent financing.
2. Have the plans and designs for the home done.
3. Search for builders to obtain bids and specifications.
4. Incorporate location or lot costs (this may occur earlier in process).
5. Talk with your lender for formal construction loan approval.

Financing & Breaking Ground

1. Apply for the construction loan.
2. Get approvals for your loan, appraisal, and title.
3. Begin construction - dig the hole, pour foundation.
4. Discuss Long-Term Rate Lock options with your lender. West Gate Bank's Construction HELP* Program can lock in the current rates.

*Back orders/rain delays/work stoppage = Talk with the Bank about rate lock period.

Building

1. Frame and enclose the home.
2. Mechanicals and wiring phase.
3. Drywall gets hung and finished.
4. Paint.
5. Talk with the lender about locking or converting Long-Term Lock.
6. Fixtures, cabinets, trim, countertops, faucets, etc.*
7. Flooring and touch-up finishes, lay sod, install sprinklers.*

*Back orders/rain delays/work stoppage = Talk with the Bank about rate lock period.

Closing

1. Final inspection by the lender.
2. Loan closing at West Gate Bank!