The Phillippe Builders Homebuyer Foundations Program simplifies your new home purchase by coordinating the sale of an existing home with exclusive new home construction financing options and listing services.
Our team of real estate and lending partners work with you to create a step-by-step plan to stage, list, market, and sell your existing home while your new home is under construction.
Talk to your Phillippe Builders Home Consultant to learn more.
With a minimal down payment, Phillippe Builders will cover the costs, interest-free, during the build of a new home for qualified customers. Construction begins with an initial earnest payment and further payments aren’t required until the home closing. Our customers find this program helps to greatly simplify the financing process in addition to avoiding the cost and uncertainty of dealing with interest rates or construction loans.
Expert Listing Service
Phillippe Builders provides an experienced real estate partner to help manage the preparation and sale of your home at a discounted listing rate. You’ll receive extensive market research and documentation to help establish a listing price as well as listing and marketing services to help find enthusiastic buyers.
Extended Term Mortgage
Most mortgages offer rate protection of only 60 days. As a new custom home may require several months to build these mortgages may leave you vulnerable to unexpected rate increases, which could frustrate your financial planning. Through our lending partner you can access mortgages with extended rate protection, up to 360 days, with a float down option that allows you to take advantage of potential rate decreases during the construction period.
USDA Rural Loan Program
Your new home purchase may be eligible for the USDA Single Family Housing Guaranteed Loan Program, which provides guaranteed loans to help home buyers afford and finance home purchases. Applicants must purchase a home within the eligible rural areas, and have a household income that does not exceed the established limits where the home is located.
- 100% financing, no down payment is required.
- The loan amount may not exceed 100% of the appraised value plus the loan guarantee fee.
- Flexible credit guidelines. Non-traditional credit histories may be accepted.
- Fixed 30 year interest rates apply. Lenders and applicants agree upon interest rate.
- Eligible closing costs and lender fees may be included in the loan or paid by the applicant.
- Eligible repairs and improvements may be included in the loan.
- Applicants apply with an approved lender of their choice.
- Not limited to first time homebuyers.