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Looking to Buy, Build, or Remodel?

a couple painting and remodeling their house

If you aren’t completely happy in your current home, you might be wondering if it’s time for a change. Choosing to buy, build, or remodel can be overwhelming, but it doesn’t have to be—just start by asking yourself the following questions. No matter which option you choose, Centra can help make it a reality!

You may ask yourself

What features do you need?
Do you want a garage, an extra bedroom, a fenced backyard, or a lower utility bill? Do you want a fireplace, a short drive to work, or maybe minimal yard work? Create a list, and then decide what’s the most important to you.

What’s your ideal location?
Consider things such as distance to work, schools, shopping,and entertainment. Remember that the location is one of the most significant influences on the value of your home.

What kind of home?
Determine how much space you and possibly each member of your family will need to be comfortable. Maybe you enjoy a smaller space like a tiny home with less maintenance or possibly you need a bigger space for when family visits.

What’s your budget?
It is equally as important to know what you have and what you want to spend on the purchase or construction of your home. There are details that you will need to budget for, like private mortgage insurance, Homeowners Association fees, utilities, maintenance, property taxes, and possible site improvements. Before building or remodeling, make sure to nail down a plan with the contractor if there happens to be a change in cost. Suggest that all changes need to be approved to avoid a sudden unexpected cost.

What am I missing?
There are a lot of helpful tips you can research online regarding budgeting for renovations like plans for budgeting mistakes, recognizing hidden costs for certain materials, asking for discounts, and looking for chances to decrease costs.

We could help make your home remodeling dreams a reality! 

Fulfill Your Dreams
From your builder and neighborhood, to oak cabinets and stainless steel appliances, this loan gives you the freedom to build your ideal home or remodel your current home.

Flexible Financing
Enjoy paying interest-only payments on the amount you need to borrow until construction is complete.

Friendly Service
A mortgage at Centra doesn’t have to end at closing. We have real, local mortgage experts ready to help you from the day you apply to your final mortgage payment.

Do you need a construction loan?

Step 1: Where are you going to build?
Do you own land? Need to find a plot of land? Want to remodel your current home?
Step 2: Apply for pre-approval.
Receive your lending limits and use our tips for what details are important to you.
Step 3: Find a builder.
After researching and choosing a builder, work with them to draft a construction plan that fits your needs and budget.
Step 4: Contact us!
We can take your draft plan and offer flexible financing to turn it into reality.
Step 5: Set your dreams in motion.
After construction begins, you can enjoy interest-only financing until your home is ready.
Step 6: Close on a Mortgage.
Roll your loan into the best mortgage option for your new home.

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