Building a Home

You’ve decided that you’d rather build your dream home than purchase an existing one! The process of building a home is a unique one, and at First South Bank, we’re here to walk you through that process every step of the way.

Steps Involved in Building a Home:

Being familiar with the process of building a home and how to go about getting financing can help alleviate a lot of the stress while building your dream home!

  • Pre-Qualify -- By knowing how much house you can afford, you'll avoid choosing a house plan that doesn't fit your budget!
  • Choose a Lot & a House Plan -- Finding a home for your home, and choosing your plan is the fun part.  Let the dreams begin!
  • Finding a Contractor -- Finding the right contractor helps determine the quality of work, the time line of the project and the emotional/financial stress your have to deal with!  Choosing a good contractor is key.
  • Apply for Your Loan -- Since you've already pre-qualified, you and your loan officer have discussed the special steps involved in obtaining financing for home construction.
  • Closing -- Sign your paperwork for the construction phase, once complete, work on the move to permanent financing.  
  • Converting to Your Permanent Loan -- Finally, you are ready to finish the process so you can move into your new home! In this final phase, you will be signing the final paperwork, learn the amount of your monthly mortgage and principal payment, and getting the keys to your new home.
  • Construction to Permanent: At a Glance -- This is a quick reference guide for the Construction to Permanent process. 

To help you avoid the costs and hassle associated with two closings – one for the construction of your home and one for the permanent financing of your home – we offer construction-to-permanent loans. We handle inspections and draws for you, so that you can focus on the really important decisions – like flooring and light fixtures!  This convenient and cost-saving option is just another way we put you first.

To learn more about financing options through First South, visit your local branch, contact a mortgage lender in your area, or send the mortgage team a message and they'll reach out to you directly. 

                                          Building a Home PDF

Our Mortgage Loan Officers are ready to help you make your dream home a reality.




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