Financing

For qualifying customers Hedgefield is able to secure in-house construction financing, with no lender fees and no additional cash out-of-pocket. This means you obtain financing directly from us during the construction phase. Once construction is complete, you transition to a traditional lender for your permanent loan.

• Max 90% Loan-to-Value of completed construction - including land.  
• Typical income, credit and property appraisal qualifications apply.
• Cash reserves may be required.

• Interest during construction is charged at wall-street prime plus 1.5%, the typical construction loan rate. This will be rolled into the loan.
• The title and closing fees will be paid twice (once at interim and once at final closing), which typically amounts to $2,500 - $5,000. 

• Simple process with a smooth transition to a traditional lender at completion.
• Faster home building process. Our financing eliminates the need to wait for a third-party lender to approve the loan, which means the project can begin sooner.
• No extra monthly payments during construction. This helps you to remain in your current home without having to make additional payments while your new home is being built.
• There are no lender fees, or origination fees.

After your home construction is finished, your permanent lender will refinance the balance of the construction loan into the permanent mortgage you have selected. 

We understand that some homeowners may have unique financing preferences. If you wish to work with a different lender for the permanent loan, we can explore that option.

Simply because it helps us to sell more homes. It enables customers with specific requirements more options in their financing decision. 

If your credit situation changes dramatically during construction (job loss, major out-of-pocket expense or purchases), and you cannot qualify for a permanent loan, you could lose the property.  This is the case with any construction loan or two-time close program.