Prospect Homes will help you to get Home Construction Loans in Dallas

If you would like to build a new home in Dallas and need a construction loan, the process has never been easier.  You may have heard these loans are hard to get or not even know where to start.  The process of getting funding your new home was a broken process and we have changed the way homeowners have access to this kind of funding. 

Difficulties of Construction Loans in Dallas

In most cases, getting a home construction loan in Dallas comes with difficulties, hassles and in most cases denials.  Since there is no completed house to use as a guarantee, most banks require an extraordinary amount of time and information before approving the loan.  The conditions have to be absolutely perfect to achieve an approval.   

Rather than search the market for a great home, many people choose to build their own home with all the features and amenities they want. Finding financing for this can be a challenging process, particularly for somebody who has never done it before.  Prospect Homes will walk you through how to get a construction loan in Dallas to build the perfect home. 

Broken Process

Based on your profiles, what types of loans are available to you?  Many banks advertise they sell construction loan products and offer a variety of packages. The truth is these loans are in some cases, impossible to qualify for.  The banking and lending process was broken during the recession and the fall out still continues today.  Prospect Homes can provide reliable lenders and we are experts at securing this type of financing.     

How much you can afford to borrow? Dallas home construction loans terms are generally based on your reputation as a borrower, the guarantee you can give, and your financial situation. The following information will help banks determine how much of a loan you qualify for:

·         Credit reports with your credit score

·         Income data, including pay stubs, and tax returns

·         Personal information, current address and past employers

·         Specifications of the house you want to build

When you know how much new house you can afford and have pinned down a favorable construction loan option, it’s time to start the application process. If you are trying to get a home construction loan in Dallas to build a home, contact Prospect Homes today at 214-850-8717.