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How Important Is Your Lender When Building a Custom Home?

By Ryan Siebert

Lending

As a custom home builder and remodeler I know how important your lender can be for you to have a successful transaction. My business has made multiple shifts over the 12 years of existence and without a banker who understands me, I would have had a much more difficult time.  The same can be said for your construction loan on your custom home. Today I want to discuss the importance of having a great lender for your project.

Experience

As a young builder I recognized that to be successful I had to work with people who had light years more experience that I do.  The same can be said about your lender for your construction loan.  You want to work with someone who has experience in lending, specifically with construction loans.  Not all lenders have construction lending experience.  Most loans are underwritten, approved, and funded.  Construction lending has an entirely different set of rules.  The money is paid out as your project progresses.  If you do not have a lender that understands the progress of a project you may end up paying out too much money for unfinished work. Work with someone that understands how to get you the money, and who knows about construction too.

A special shout out to Signature Bank for continuing to help out with my business needs, and for having me be a part of their radio commercial which can be heard here:

Rate Watcher

Your lender needs to understand rates.  Today’s market is less volatile for interest rates, but there will be a day when that changes.  Your lender on your custom build home needs to understand what rate programs and changes are available to assure you have the correct financing options in place.

 

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Program Versatility

For your custom built home I believe it is important to have the correct loan in hand.  Let’s face it, you do not do this every day.  Your lender needs to understand your financial needs and put you in the program that makes sense for you.  I am not only talking about fixed versus ARM programs.  Construction lending offers different options for down payment, construction payment terms, size, and overall numbers of loans to take out.

I always find value in doing research and understanding options for all areas of custom home building and remodeling, including lending.  When it comes to lending the best value is finding someone that understands the process and understands your financial situation so you can put you and your family into the best lending program for you. If you want to discuss further please call me on my cell 847-602-7641.

How to Select Interior Trim Packages for Your Custom Home

When he comes to selecting interior trim for your home this simple little task can become very complicated. My custom building and renovation clients in Naperville know all too well what I am talking about. Today I want to give you a few tips on how you can take the bull by the horn and get your trim package selections taken care of and avoid a lot of stress.

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Naperville Remodeling

How Many Contractors Does it Take to Complete My Renovation Project?

How Many Contractors Does it Take to Complete My Renovation Project? By Ryan Siebert This article is for all of you out there that are looking to take on your next renovation project on your own.  Coming from someone that knows about the renovation project I tip my cap to you for having the confidence […]

Naperville Custom Built Home

Custom Built Home in Naperville, IL

Custom Built Home in Naperville By Ryan Siebert We recently wrapped up on our latest custom built home in Naperville.  I wanted to give you a tour of my favorite rooms of the house so you can keep your eyes open when custom building your own home.

Chicago Developer

Chicago Development Projects Start With Marty Paris

What Does It Take To Dominate Development Projects In Chicago?

Chicago Developer

Marty Paris Founder and President of Sedgwick Development

As the leader of one of Chicago’s top development companies Marty Paris knows his way around the block.  In this episode of Secrets of Homebuilders Marty gives an up close look into being a Chicago Development company and shares what it is like to manage the construction, but have no skin in the game for the development.  Marty discusses how he got started in development of projects and reveals the number of projects that he and his team are currently working on in Chicago.  For those of you looking to start Chicago Development, you may want to listen to what Marty has to say about the current state of the market and his feelings on the future.

Chicago Custom Home Building

How to Prepare for Coffered Ceilings

How to Prepare for Coffered Ceiling Installation By Ryan Siebert If you think installing a coffered ceiling is a simple task you can wait for the last second, you may find yourself in serious trouble.  

SOH_Episode_11_Return of Carrie McCormick

What does Chicago Real Estate Look Like in 2018?

Carrie McCormick – Real Estate Broker with @Properties

Carrie McCormick returns for part two.  In this episode Pat and Carrie discuss the ways that the stock market rise and confidence in the economy could lead to a booming year in real estate in 2018.  Carrie also discusses how development in neighborhoods not only increase the value of homes, but it also helps create better schools in the area by raising the bar of student and parent involvement.  More development in your neighborhood gives the consumer the opportunity for custom renovations and rehab work to be completed.  From a developer perspective, it is important to know the areas and neighborhoods where there are value plays on the way, and when to hit the stop button as neighborhoods hit their peak in value.  Pat also reveals that Carrie will be joining the Board for the Home Builders Association of Greater Chicago.

 

Secrets of Homebuilders

SOH_Episode_10_Danielle_Dowell

Secrets of Homebuilders

Danielle Dowell – Real Estate Broker – Berkshire Hathaway

Danielle Dowell burst into the real estate market and dominated her craft from start to finish.  She learned the real estate business from the ground up and now leads the direction for many developers looking to build the hottest property and attract buyers to the location.  She understands that making money in real estate starts with research and is willing to put in the effort to make a project perfect.  Her and Pat both understand that to make a custom renovation or new construction project work you have to set expectations that are realistic.

Wallpaper

Return of Wallpaper

Why Does Wallpaper Matter? By Ryan Siebert The thing about custom renovations and custom  new construction projects is that they are custom. Follow me for second. I am a systems person. I love putting things together you can replicate. I’m constantly working with my project management team to come up with ways we can replicate our custom construction process […]

master bathroom tips

How To Select Your Plumbing Fixtures For Master Bathroom

How to Select Your Master Bathroom Plumbing Fixtures By Ryan Siebert It is important to be careful with the plumbing fixtures that you choose when making your selections for your master bathroom!