218 Martin St N, Pell City, AL 35125

T: 205.884.2665  F: 205.884.9030


new construction

1.) Pre-approval

Before you begin construction it is crucial to get pre-approved. This will help you determine what price house you qualify to build. You will need to set up and appointment and bring the following documentation:

  • Last 30 days worth of pay stubs
  • Past 2 years W2’s and tax returns
  • Past 2 months bank account statements (all accounts)
  • Award letters (retirement, social security, etc.)

Once we review all documents and run your credit, we will be able to tell you the loan amount you should be approved for. We will also discuss what monthly payment you will be most comfortable with. From here, you will have an idea of how much you can spend on a lot and construction of your home.

2.) Lot/Location

Now you can start shopping for the location of your home. Based off your approved loan amount, you may have an amount reserved for your lot. Whether you are wanting to build on the water, a subdivision, or rural, you should have an idea of the price range you have set aside.

3.) House Plan & Builder

You have your lot. Now you need the house and someone to build it. The fun part is shopping for your dream house plan. The options are without bounds, and there is a builder that can make that dream happen for you.  Sign a contract with a builder that you are comfortable with, and can visualize your dream.

4.) Arrange Construction Financing

Call to set up an appointment with us to arrange financing for your construction.

5.) Permanent Financing

Within 60 days of completion, set up an appointment to begin your permanent financing process. You will complete a loan application, sign all necessary disclosures and any other docs. All income and asset documents will be verified. Appraisal will be ordered. Quotes for any applicable insurance (homeowners, title, flood, etc.) will be requested. All of these, among other documents, will be sent to underwriting for approval. Additional information may be requested by the underwriters. It is crucial to satisfy all requests in a timely manner due to time restraints set by law. Any new credit inquiries, change in employment, cash deposits, etc, may hinder approval of your loan.  Once your loan is approved, you are ready for closing.

6.) Closing

Finally, it is time to close!  Prior to close your mortgage professional will review and have you sign the closing disclosure. This will explain funds you need to bring to close, all costs pertaining to your mortgage, and any other details. The closing will be held at an attorney’s office in which a closing agent will review several closing documents for your to sign. Be sure to bring your finds to close and two forms of identification. Once complete, your will officially own the home. The funds will be wired and you are responsible for the mortgage.