Financing your custom new home.
Building a custom home is an exciting endeavor, but one of the most significant pieces of the puzzle is often the most complex: financing. Unlike buying an existing property, a construction loan isn’t a “plain vanilla type of product.” This is where the strategic partnership between McDonald Construction and Tradition Mortgage proves to be an invaluable asset for homeowners.
As Tom Buslee, Senior Partner of Tradition Mortgage, who has a long-standing relationship with McDonald Construction, notes, “The thing I’ve noticed about McDonald is you hear ‘custom home builder,’ but they really are a VERY customized home builder.” This commitment to a truly tailored experience extends to the financing. Construction loans are disbursed over the course of the project, not all at once, which requires a nuanced understanding of the building process and the client’s financial goals.
Uniqueness counts.
“Every client, every home, and every financial situation is unique,” explains Tom Buslee, Senior Partner, Tradition Mortgage. Their approach begins with a deep dive into the client’s objectives: “The first thing I want to do is establish, okay, who are these people? What are their goals? What’s their timing? What are the challenges? What are the hurdles?”
This personalized assessment allows Buslee and his team to craft a financing solution that truly fits. The goal is always to find the most efficient and cost-effective path for the client. While traditional construction financing is readily available and expertly handled, Tradition Mortgage encourages exploring all options.
“If you can avoid full-on construction financing, awesome. It’s going to be cheaper. It’s going to be quicker.” However, if a full construction loan is necessary, they are “very good at it,” bringing extensive experience to the table, explains Buslee.
A true collaboration.
The synergy between McDonald Construction and Tradition Mortgage is crucial. As McDonald Construction Partner president Dave Remick explains, “Each situation is unique because each house we’re building is different and each client’s personal situation is different. And Tom and his team really do a great job of marrying those two together.”
This collaborative understanding ensures that both parties are aligned from the outset, facilitating a smooth process for draws, payments, and overall loan parameters. The commitment from McDonald Construction and Tradition Mortgage to an unparalleled customer experience ensures that your custom home journey is not just successful but genuinely enjoyable.
