BarndominiumLoans.com | Get A Barndominium Loan Today!

What are my home loan options?

So you want to build a new home, but you’re not sure how to get financing. That’s where we come in.

There are thousands of different mortgage products out there, but if you’re building a barndominium you may feel like none of the present options are a great fit for your project. FHA, VA, USDA, and more terms like this will have your head spinning faster than the speed of light.

That’s why we started HomeownersNetwork.com – we’ve done the dirty work of finding the best mortgage products for residential construction projects (and existing homes) and presented them here for you. So whether you’re in Alabama or Alaska, if you want financing for your new home you’re in the right place.

Check My Eligibility

Featured Articles

No posts found!

What Are You Looking For?

Tools & Resources

Home Loan Basics

Check Official Home Loan Requirements

Get matched with a construction lender and check your eligibility for a low money down loan.

Start Your Quote

Wondering about construction loans?

If you have questions about your new home financing options, these frequently asked questions will help.

How much can I borrow for my new home build?

The amount that you can borrow for your new home will depend on a few factors such as your credit score, your income, and what you’re planning to build. Additionally, in a construction loan you’ll typically need to put down 20%-30% as a down payment.

Can I pay off my loan early?

There are typically no pre-payment penalties with a construction loan. Also, since you’ll typically need both a construction loan and then an actual mortgage, you can think of the mortgage as “paying off” the remainder of the construction loan balance.

Do I need to sell my current house before I can get a construction loan for a new build?

This question is asked constantly, and it really comes down to your personal financial situation. If you have $250,000 of debt on your current home and are looking to borrow $500,000 to fund construction on a new home, you’ll need to have the income level to support $750,000 worth of loans (commonly called debt-to-income ratio). Some people choose to sell their current home, live with friends/family or in a rental while the new home is being built. Others have the income to support two mortgages at one time!

Check Your Eligibility Now!

Everything You Need For Your Home Today

Residential Construction Loan