Options are limitless with Ryan Dicharry Custom Homes! Are you looking to build your forever home on land outside one of our communities? If so, Ryan Dicharry Custom Homes provides a turnkey financing option that makes building is easy as pie.
Traditionally, the only way to custom build a new home was to obtain financing from a mortgage lender in the form of a construction loan. Banks usually lend 80% of the construction cost or value (depending on the bank) and the homeowner is required to come up with the 20% down payment. For example: on a $300,000 home a $60,000 down payment would be required up front. Homeowners are usually required to purchase the lot first then apply for the construction loan. The homeowner deals with the hassle of bank draws and multiple payments to a contractor/builder throughout the building process. Sounds like a hassle, right?
We have opened doors and opportunities for those who qualify for a home and want a stress-free building process! Ryan Dicharry Custom Homes will provide the construction financing with our Turnkey Program! This allows our clients to build their dream home on a lot of their choice with all the amenities they desire. Homeowners are only bound by the amount they are pre-approved for, from their bank.
Here is how the process works when you use Ryan Dicharry Custom Homes Turnkey Program:
1. LOT & PLAN SELECTION: We begin by listening to your home dreams & desires. We have many options for choosing your home plan. We can build one of our predesigned home plans, modify one of our homes plans to fit your needs or build custom plans you have purchased on your own or have envisioned. If you have not narrowed down a home plan, do not worry! We have been in business long enough and have built over a 100 custom homes. We have many home plans in our portfolio that we can discuss with you. At this meeting or shortly after we may be able to provide you with a guesstimate to home/lot cost. Remember this is just a guesstimate, we will need to sign a Letter of Intent agreement to obtain finalized pricing.
2. PRE-APPROVAL: To get started you must be pre-approved by one of our approved lenders. You can use any mortgage company for your actual mortgage; however, pre-approval must come from one of our approved lenders. You can find their contact information here: https://www.ryandicharryconstruction.com/our-process/finance-and-lending-info/
3. LETTER OF INTENT: This is an agreement between buyer and Ryan Dicharry Custom Homes agreeing of intent to purchase a home. An initial deposit of $2,000 is taken and plans (with all modifications & changes) are sent to our Architect to be redrawn/drafted. Client will receive updated plans and will have one additional set of revisions; plans will then be finalized. If any additional changes are made to plan after 2nd set of revisions an additional fee will be added. Once plans are finalized, we move to the bidding process.
4. BIDDING: We begin sending your final plans to all of our contractors to finalize a price for your home.
5. CONTRACT: Once a price has been agreed upon and home plans are perfect, we will sign a purchase agreement. At the time of signing we will need the full deposit for your home. Deposit for our Turnkey Financing Program on average ranges between $10,000 – $30,000. Our deposit is based on several factors such as location, lot specifications, home price, marketability, etc.
6. SELECTIONS: Now it’s time for the fun part! This is where you customize your home and make it your own. We will have an initial viewing and then 2 selection meetings where we will design your dream home in our custom Design Center. All selections out of allowance are paid upfront in an additional deposit.
7. PRE-CONSTRUCTION MEETING: After your plans are finalized, your selections are complete, and upgrades paid for. We have one meeting with our Superintendent, Owner, and New Home Specialist to review plans and selections.
8. CONSTRUCTION: Sit back, relax, and take a deep breath while we build your dream home. Our average time is 120 days from the time we pour the slab; however, this could change due to weather and other forces outside of our control.
9. HOMEOWNER ORIENTATION: About a week prior to closing, you will meet with our Super Intendent & New Home Specialist for your Homeowner Orientation. This is an introduction to your new home and its many features. We review key points about maintenance, warranty coverage and review the overall quality of your home. We list action items for further attention and arrange for appropriate work.
10. CONFIRMATION TOUR & CLOSING: Prior to closing we meet at your home to finalize all outstanding items and sign off with your approval to proceed to close.
Congratulations, it is time to close on your new home! Ownership of your new home is transferred from Ryan Dicharry Custom Homes to you.
As you can see the process with Ryan Dicharry Custom Homes is seamless. Our New Home Specialist, Jayne will guide you step by step throughout building, ensuring you the best experience. For more information on our homes and Turn Key Financing Program contact our New Home Specialist, Jayne Luckett today at Jayne@RyanDicharryConstruction.com and/or 985-859-4757.