Picture of

What is your goal?

Purchase

When are you
looking to buy?

Within 30 days
2-5 months
6 months - 1 year
Unsure

How is your credit score?

Poor (619 or below)
Fair (620 - 679)
Good (680 - 719)
Excellent (720+)

Where are you
looking to buy?

How much are you
looking to spend?

$150 - 175k

What is your estimated
down payment?

18 - 21%
Please complete all fields.

Are you working with a loan officer?

Yes
No

Let's connect!

Please complete all fields.

Thank you for
reaching out!
A Loan Officer will be in contact with you soon.

Would you like to continue to complete your full application?

No, thanks.
Continue

What are your refinance goals?

Lower Rate
Smaller Payment
Shorter Loan
Unsure

Where are you currently living?

What is your current balance on your mortgage?

$75 - 100k

What is your estimated home value?

$150 - 175k
Please complete all fields.

New Construction

What is a New Home Construction Loan?

A New Home Construction Loan, with Ruoff Home Mortgage, allows you to simplify the often confusing process of building a home from the ground up. There are two types of construction loans: One-Time and Two-Time Construction Loans.

New Home Construction Loans cover everything from the land purchase to the roof tiling. If you'd like to design your new home down to the last detail, a New Home Construction Loan is for you!

How does it work?

It all starts with deciding on the builder or contractor you would like to build your new home. Your contractor and Ruoff will do the rest!

We will manage your construction funds for you by tracking and dispersing all payments to your contractors. We will order inspections from certified home inspectors and/or appraisers to ensure work is complete and finished in a professional manner.

You and your contractor will have the peace of mind knowing the funds allocated for the construction will be safe and available when a payment is required.

What's the Difference?

We have put together a checklist for you to help decide which program best fits your homeownership goals. Both programs are for primary residences only and offer great
Stability, Flexibility, and Convenience

One-Time
Close Construction

  • Combines your construction financing and permanent financing
  • Interest rate locked before ground breaking
  • You can review and possibly lower your interest rate if the market has improved by the time your home is complete
  • Finance options on both purchase of the land and new home construction
  • Often one approval process and one set of closing costs
  • Minimum 10% down payment
  • Interest-only payments during construction period
  • Fixed rate, permanent financing terms of 15 or 30 years
  • Loan amounts to Fannie Mae conforming limits
  • Flexibility of a 6-month or 9-month construction loan term

Two-Time
Close Construction

  • Great for those wanting assistance with budget and a variety of loan programs
  • Competitive extended rate lock options
  • Interest rate will be determined with market at time of completion
  • Finance options on both purchase of the land and new home construction
  • 5% down payment due at construction closing but can be reimbursed when build is complete
  • Interest-only payments during construction period
  • You can choose from any qualifying mortgage product including fixed and adjustable rates for the end loan
  • No maximum loan amount for qualified candidates
  • Up to 12-month construction loan term

I'm Interested in a New Construction Loan