Preferred construction from Edgewise Realty
New construction homes certainly have their benefits, but it takes time to build homes. That’s why we created the Edgewise Preferred program, produced in partnership with Univest Bank to move you into your new home faster. Best of all, there’s no added cost to build your home using preferred construction. Promotions vary by listing, so be sure to visit the individual listings to learn more.
How does Edgewise Preferred work?
Typically, an Edgewise buyer owns their home only after it’s ready for occupancy. But with Edgewise Preferred, buyers take possession of their house during the construction process. From this point on, these homes receive priority attention from builders to complete construction within 90 days.
To do this, Edgewise partnered with Univest Bank to create an innovative program designed to finance and build homes more efficiently. The program combines construction and mortgage loans into one product. That means there’s only one application and one set of closing costs – just like buying any other house.
The difference is that you own your home before the installation of drywall. The construction portion of the loan pays builders to finish your house according to your interior design selections. Don’t worry – the same builders that framed your home remain on the project to finish its interior. Managing it all is the owner’s representative, who oversees the project from foundation to finishes. That way nobody misses a beat.
What are my responsibilities if I elect the program?
Edgewise Preferred buyers possess their home when it is ready for drywall and interior finishes. Buyers have the power to approve the distribution of funds to builders and attend regular walkthroughs and inspections. Edgewise Preferred homes are the very first homes to be completed, cutting months off the construction timeline. The home building process
There are no payments due during construction. And once your home is complete, your construction loan converts into a mortgage product of your choice. If you prefer a more hands-on approach to building a house, the Edgewise Preferred program may be right for you. Remember, Edgewise representatives are always there to guide you every step of the way.
Who is eligible to join the program?
Any Edgewise home can be built using the prefered program. Interested? Please reference the qualifications below and contact Edgewise to learn more.
- Minimum 10% down payment
- 700+ credit score
- Debt-to-income ratio less than 40%
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