Clients who come to us from other builders are usually surprised at how hard it was to find a bank that will approve a construction loan. Banks are extremely cautious about loaning money to builders they have no previous relationship with. Yet banks love us. Why is that?
The other kind of client we get are ones who have land, but don’t know how to get started building their home. They don’t know who to call or how to handle financing. When we call our banks, we get approval right away. Why?
Incomplete projects are all too common within the construction business. It’s become too risky for banks to approve construction loans. There are three main reasons we are viewed as much less risky than others.
Our 50 years in business position us perfectly as a trusted builder. We have 50 years of relationship building with banks that our competition just doesn’t have. We have a number of banks with programs designed just for you that are builder friendly.
Fixed Cost Builder
When we sign a contract with a client for a set dollar amount, that’s the price the client can expect to pay. If the price of lumber increases by 40% after the contract is signed, we eat that cost.
Price increases for building materials is more common that you might think! Prices are constantly changing. If you go to a cost plus builder, the price you agree upon could change depending on what price increases the build incurs in materials during the building process.
We take all that risk for you and banks like that aspect about working Turner and Son.
We’re so cost effective in our home building that 98% of all our homes appraise for more than the contract price. And we have the data to prove it. You get an immediate return on your investment. Banks love that the appraisal price is more than our cost to build because it takes even more risk off of them.
When you’re ready to build your home with Turner and Son, you can rest assured that your construction loan will be handled quickly and professionally. Call us today to get started at 405.285.2856.