Once you have selected a lender, they can assist you in getting pre-qualified for a loan amount, which will be helpful for you in determining how much you can afford to spend on the land, preparation and construction for your new home.

Can the purchase of the land and the construction loan be combined into one loan?

Yes. The majority of construction lenders offer All-In-One packages that combine the land acquisition with the cost of construction.

Once I've been pre-qualified by a lender, what's next?

After you have been pre-qualified by your lender, you will want to finalize the land and construction details, and execute a construction contract. Fox Homes and your real estate agent can then ensure that all the necessary documents are submitted to your lender, so that your loan documents can be drawn up and your construction loan rate can be locked in.