{"id":446,"date":"2024-09-04T18:13:02","date_gmt":"2024-09-04T18:13:02","guid":{"rendered":"https:\/\/www.dreamdomehomes.com\/?page_id=446"},"modified":"2024-09-04T20:48:30","modified_gmt":"2024-09-04T20:48:30","slug":"construction-financing","status":"publish","type":"page","link":"https:\/\/www.dreamdomehomes.com\/?page_id=446","title":{"rendered":"Construction Financing"},"content":{"rendered":"

Dream Dome Homes now offers Private Construction Financing. We have made an agreement with private investors who will provide us with the money to fund the complete construction of your New Home to your specifications, provided you meet the necessary requirements.<\/p>\n

These requirements include:<\/p>\n

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  1. You must have a valid credit score of 650 or above.<\/li>\n
  2. You must currently own the land on which the home will be built without any current liens and allow us to take a lien against that land in order to secure our position in constructing your home.<\/li>\n
  3. You will work with our designer to complete the design you want so that we can determine the total price of your completed home.<\/li>\n
  4. You will be required to make a Down Payment of 10% to 20% of the total price, which will include all of the costs involved in making this agreement.<\/li>\n
  5. Our attorney will draft the agreement and provide it to you for your attorney to review.\n
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    1. Upon execution, you will be agreeing to pay us the total price by acquiring mortgage financing of your own within no more than six months after the completion date.<\/li>\n
    2. In the event you are unable to acquire financing, we will convert the agreement to a Contract for Deed with an amortization schedule based on 20 years and an interest rate of 6% to 9% which will be determined on a case-by-case basis.<\/li>\n
    3. We reserve the right to sell this Contract for Deed to another Investor, to whom you will then make all the payments required under the contract, at the conclusion of which you will receive a clear Warranty Deed to the property.<\/li>\n
    4. In the event you default and fail to make all of the payments required or in any other way cause a default of the Contract for Deed, that Investor will have the right to declare forfeiture and take legal possession of the property, although you may have a certain amount of time to reclaim the property.<\/li>\n<\/ol>\n<\/li>\n
    5. Dream Dome Homes will arrange and supervise the construction and finishing of your home according to the design you have chosen, making payments for all materials, contractors and labor as required, and make it available for your inspection and to allow you to seek mortgage financing under our agreement immediately upon completion.<\/li>\n<\/ol>\n

      If you would like to apply for this program, just complete the form below and our Sales Manager will reach out to you at his earliest convenience.<\/p>\n

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