Holiday Builders


New Home Construction Buying Guide

2024 New Construction Home Buying Guide – Step 5 of 5

The final step of the new home construction buying process is locking in a finance rate for your home loan and setting a closing date. Rates are typically available for a 30, 45, or 60-day lock. Financing a move-in-ready new construction home, or a resale home is different than new construction. With new construction, the builder and lender must stay in communication. The builder notifies the lender of the various stages of construction. At Holiday Builders, the installation of cabinets is a stage that signals the completion of the home is likely six to eight weeks away.

Holiday Builders works with Coastal Loans as a lending partner. Coastal Loans is a joint venture between FBC Mortgage and Holiday Builders. Coastal Loans’ mission is to serve Holiday Builders customers. To that end, Holiday Builders and Coastal Loans have weekly calls to keep track of each customer. These weekly calls are key to the timing of rate locks.

Working with a builder’s lending partner has many benefits outside of communication. For example, the builder will pay a portion of the buyer’s closing costs when the loan is processed through the lending partner.

The last element of the purchasing process is the closing. The closing is when the buyer and seller sign all documents to transfer ownership of a property. The homebuyer signs a mortgage loan, and the title company registers the title deed to the property, in the buyer’s name. The title company sets the date for the closing. To close, a home must pass all inspections, have electrical power and water, and a Certificate of Occupancy.  Again, communication between the builder and title company is key. Holiday Builders uses HB Title, a subsidiary of Holiday Builders.

The lender will notify the homebuyer that they have a “clear to close”. This happens when the lender has confirmed that the buyer still meets all the requirements of the loan.

Holiday Builders offers homebuyers a one-stop shopping experience. Through Coastal Loans, a mortgage joint venture, and subsidiary HB Title, Holiday Builders provides mortgage financing and title services for its homebuyers. Buying a new construction home is different than purchasing a resale home. Homebuyers of new construction enjoy the benefit of the latest construction practices, all new appliances and heating and cooling systems, a new home warranty, and reduced costs on homeowners’ insurance. When shopping for a new home, be sure to consider the advantages of new home construction.

Getting the keys to your new home at closing.


Step inside the world of Holiday Builders



Call Us Today


Get in Touch:   Call

Have Questions?

    Community You're Interested in?