A Home Builder that Remains Constant in Changing Times

Now’s the Time to Build Your Demlang Home

Ready to take the leap? Let’s start the home building process together.

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Don’t Wait to Start Your New Construction Home

Thinking About Building?

With stabilizing interest rates and a resetting housing market following the pandemic, things are back to business as usual. Although we’ll all miss the 3% interest rates we saw in the past few years, current mortgage rates are leveling out and remain significantly lower than historical ones. In addition, less activity in the housing market is offering unique opportunities for building. Discover why now is a great time to build!

When you build a custom home with Demlang Builders, you’ll receive the quality, care, and timeliness we bring to every project. With reliable schedules and constant communication, you can rest assured that your project is on track and stay updated about the latest developments. As the market stabilizes, we provide the stability you need to feel comfortable and confident about the home building process.

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industry news get the latest

Stay Up to Date with the Latest in the Industry

The media loves negativity, so we’re doing our part to sift through the doom and gloom to provide you with resources surrounding the current housing market. This list of articles is constantly updating, so check back to find out why industry experts say now is the best time to build!

Why Build Now?

  • Stabilizing Costs

    Stabilizing Costs

    Build now to avoid surprises! As the market returns to normal, supply costs and timelines are beginning to stabilize. As a result, we know what to order sooner and can manage the supply chain with ease.

  • Reliable Schedules

    Reliable Schedules

    Supply chain improvements and subcontractor availability means your build will operate on a quick and reliable schedule. We’re proud to build on an expedited timeline so you can move into your new home earlier!

  • Safe Investment

    Safe Investment

    Real estate has always been a relatively conservative investment strategy. The high-cost real estate market we’ve experienced the past few years seems to have stabilized, making your investment in a new home more sound than ever.

  • Land & Lot Availability

    Land & Lot Availability

    With less activity in the new construction market, there will be greater land and lot availability — and less competition! This means you have a better chance at getting the lot you want.

  • Opportunity to Refinance

    Opportunity to Refinance

    While interest rates return to normal ranges, non-traditional financing programs are becoming mainstream again. A planned refinance at a future lower rate can help lower your long-term monthly cost.

  • No More Guessing Games

    No More Guessing Games

    Get exactly what you want! With new home construction, you don’t have to settle for unexpected surprises. Existing home inventory remains low and many properties require extensive remodeling, making new construction an attractive option.

Know Before You Build: Non-traditional Financing Terminology

Most homeowners and home buyers don’t know their financial options when it comes to purchasing a new home. While many focus on the traditional 30 year mortgage, there are many excellent financing programs to consider. Explore a range of nontraditional options or let us connect you with a lending partner to find the best fit for you!

Unlike a traditional fixed-rate mortgage or loan, a variable rate is dependent on the ebbs and flows of the market. Variable rate loans and mortgages are dependent on index rates set by the Fed and have the potential to increase or decrease with current market rates.

When a home loan has a variable interest rate, it is known as an adjustable-rate mortgage. Also known as variable-rate or floating mortgages, these mortgages set a fixed interest rate for period of time. After this period, the interest will reset periodically at annual or monthly intervals based on the performance of specified benchmarks or indexes. This is a useful option for homeowners who plan to refinance for a lower interest rate.

Also known as an interest-only mortgage, a deferred interest mortgage can be a beneficial option in times of economic uncertainty. With lower monthly payments for a set amount of time and increased payments in the future, these loans allow homeowners to postpone paying a loan’s interest (though interest will continue to accrue).

Both of these loans are designed to provide short-term funding for new construction projects; however, they are designated for different occupancy requirements. Floor loans are available for properties that will be occupied by tenants, not the owner, and are often the first step of a larger construction loan. On the other hand, construction loans are short-term loans available to individual homeowners who may opt to refinance the loan into a mortgage or new loan at a later date.

When it comes to a new build, combination loans are a great way to avoid private mortgage insurance (PMI) and reduce closing costs. These loans offer a set of two separate mortgage loans — such as an adjustable-rate mortgage and 30-year mortgage – through the same lender. A combination loan provides funding for new home construction and is followed by a conventional mortgage after the build is completed, with the second loan often paying off the first.

This personal finance tool compares the amount of debt homeowners have to gross income. This number becomes important as lenders utilize this as a baseline of your ability to repay a loan. To calculate your debt-to-income ratio (DTI), simply divide your recurring monthly debt by your gross monthly income.

The prime rate is the optimal interest rate charged to borrowers who are least likely to default on their loans. Each bank sets its own prime rate and often reserves this rate for corporate customers. Unfortunately, this means homeowners are likely to have an interest rate higher than the prime rate, but taking steps towards reducing debt, boosting your credit score, and minimizing risk factors can help you achieve a lower rate.

Points, or mortgage points, are part of the closing process. This prepaid interest is owed at closing, where one point equates to 1% of your loan. When you pay points as part of your closing costs (bonus: they’re tax deductible!), you’ll lower your monthly mortgage payment, making it more manageable in times where the housing market is in flux.

Ready to start your new build? Contact our team to get started.