Finance

Your New Home

Sandlin Homes strives to create a seamless home buying process. As a family-owned builder, relationships are important and are the basis of growth and success. Therefore, Sandlin has partnered with Prosperity Bank to provide a stronger level of customer service. Whether you've just started looking or you've got your dream home all picked out, it's never too early to start evaluating financing options. To begin your finance process, please contact Prosperity Bank at the link below.

Our Preferred Lender

Contact our preferred lender today

Chase Hamilton

Mortgage Loan Officer, NMLS #1983767

Email Mobile: (817) 287-5739

Apply Now

Financing Steps

Pathway to Your New Home

Get Pre-Qualified

You will need a pre-qualification for construction loan to determine how much you qualify for.
Lot determination - Own free and clear, own partially with payoff as part of the construction loan, or purchasing lot as part of the construction loan.
Determine how much down payment and loan-to-value.

The Loan Application Process

The loan officer will reach out to you to discuss the application as well as any questions regarding the construction process.
Based on your application you will receive a list of documents needed for the pre-approval process.
Our construction program is a one-time close process that will convert to a permanent mortgage once construction is complete.

The Home

We will need an executed construction contract along with your plans and specifications.
The appraisal will be completed prior to closing on the construction loan. The appraisal will use your plans and specifications to determine the appraised value of your house as if it’s already built sitting on your lot today.

The Loan

During construction you will be paying interest only on the amount drawn on your project.
No Private Mortgage Insurance (PMI) is required.
If you already own the lot and there is a lien on the property. The lot lien will be paid off at closing on the construction loan.
Draws will require inspections by a third-party individual.

The Draw Process

The construction process is a 12-month interest only term. Extensions may be granted based on a case-by-case scenario.
5 draws typically (pre-paid at closing). You may have more than 5 draws can could be subject to additional fees.
You have the option to be involved in the construction draw approval process. Once a draw is submitted you will be able to approve all draws (if you want) prior to the draw being funded.

Time to Move In

Home completion and final walk through (check-off punch list items possibly delayed due to weather, supply chain issues, etc.)
Occupancy permit issued by municipality.
Changes needed/updated for your homeowner's insurance.
Construction loan automatically converts to permanent financing.
Move In - Congratulations!