How To Get A New Home Loan in Salt Lake City

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Most people want to build their own dream custom home in Salt Lake City but never do because they believe it is unachievable or too expensive. It is true, building a custom home can be costly however you can get a loan for it just like you can get a loan to buy a home. It is just about the same process too! If you would rather build than buy, get a construction/new home loan in Salt Lake City!

Building your dream home can be easy and affordable with the right mortgage loan company in Salt Lake City. The first step in getting a loan is finding a trustworthy mortgage broker! Sure, all loaners are going to have money to lend you but the right lender will have benefits. For example, you should be looking for two-time closings, competitive rates and fees, LTV financing, and owner builders. Depending on the mortgage broker, they can ensure timely completion and work with the builder directly to ensure that the financing runs smoothly with your new home loan.

The next step is going to be securing a new home loan. The way you do this like you would with any other loan. After you found a mortgage lender you want to work with, fill out an application. The application will require a few documents and you will schedule a time to meet with a loan officer. From there, you will either get approved or denied. This is where it is a little different from a traditional loan. For example, when you buy a home you get a pre-approval, find a house and then make an offer. Since you are skipping finding the home, you will just get approved or denied pretty early in the process of trying to get a new home loan. From there, the loan officer will work with you and the construction company to get the house built. After the home is built, a couple more details will be sorted regarding your new home loan. Lastly, you sign some final documents and you have a beautiful, brand new custom home!

Getting a new home loan in Salt Lake City does not have to be intimidating. In fact, it can actually be incredibly easy to get a new home loan by finding the right mortgage broker. By having the right mortgage broker for a new home loan, they can help ensure the building process is done in a timely manner and make sure the financing is not an issue.

Graystone Mortgage are outstanding mortgage professionals who will work with you one on one to ensure that you get a financial solution that is tailored specifically to meet your financing needs. Whether you are purchasing your dream home, refinancing an outstanding loan, looking for a new home loan Salt Lake City or consolidating debt, our highly experienced team of loan officers can help you find the right loan program, no matter your needs.