Luxury Home Construction Loans
“If you want something done right, do it yourself.” – Charles-Guillaume Étienne
You’ve worked hard, earning and saving your money, and now it’s time to find your luxury dream house. You can search and search, but you may never find the “perfect” home. So why not build it yourself?
That’s what many people do. They find the right lot, the right architect, and the right interior designer, but now they need the right source for a mortgage loan.
NorthStar Home Funding understands that large, luxury homes are unique and require special loan programs. They take longer to build, and so conventional loan programs are usually not appropriate.
Construction loans are usually structured to be dispersed with “draws” meaning the lender releases the proceeds in segments as the home is built. The lender usually participates in the inspections as the home is constructed to make sure the funds are being used according to the architect’s plans. With very large homes, a special ability and understanding of luxury construction is needed, and the professionals at NorthStar have earned a sterling reputation planning and executing the process from start to finish.
Each luxury home loan request is looked at individually, and so there are not any set limits on loan amount or loan-to-value. NorthStar has arranged construction loans for customers exceeding $20 million and will always seek the source for financing that best meets our customer’s needs and goals.
The first step to realizing your dream of the perfect luxury new home in New York, New Jersey, California, Connecticut, Pennsylvania, Rhode Island, Maryland, or Florida is to reach out to the professional home lending experts at NorthStar Home Funding at (800) 917-1595.
Our pledge is to find and fund the best luxury home construction loan available and make the process from breaking ground to moving in as seamless as possible.