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Construction Financing

Fairway Construction offers construction financing for your build

Sample Deal – this is for evaluation purposes only and your deal may not be the same as this example

  • Selection of building lot – Buyer will either select a current lot owned by Fairway Construction or Select from another available lot in The Hideout
  • Purchase Price of Home - $390,000.00
  • Down Payment - $50,000.00, to be held by builder as security against default
  • Construction Financing – Financing to be provided by Fairway Construction. No Payments or any other costs to be charged by Fairway Construction, during course of construction. Buyer must purchase the home at the pre determined Agreement of Sale Price within 30 days of the certificate of occupancy being issued for the property
  • Closing Costs – Buyer will pay ALL closing cost that would be usual to a standard real estate purchase, by a buyer.

Qualifications

  • Minimum 620 Credit Score
  • Pre Approved Loan Approval from a qualified lender
  • Verification of Funds for Deposit
  • Verification of current employment status
  • Verification of Income

NOTE: Agreement of Sale, with all terms being listed, must be signed by BUYER. In the event of BUYER default to purchase, Fairway Construction will retain 50% of original Deposit($25,000). Balance of Deposit will be returned to Buyer within 30 days of default and termination of contract