Construction Loan vs. End Loan
Although many builders require a construction loan, Phillippe Builders is large enough to finance the construction of your home, enabling you to buy the house with an end loan. This advantage simplifies the home building process and is a great source of relief for our clients. After all, building a new home is stressful. No matter how smooth the process is, our clients typically are going through multiple changes at once: selling a home, packing, moving, finding land in a desirable neighborhood, identifying a house model, finish selections, etc. We get it; change makes most people uncomfortable. The team at Phillippe Home Builders does what we can to make the whole process easier for you. Based on feedback from real customers, not having to go through multiple transactions is a relief, and we’re glad we can help.
USDA Rural Development Single Family Housing Guaranteed Loan Program
The USDA provides a guaranteed loan program to help home buyers afford and finance home purchases. More Information.
Applicants must purchase a home within the eligible rural areas, and have a household income that does not exceed the established limits where the home is located. Additional Guaranteed Loan Features include but are not limited to:
USDA Loan Overview
- 100% financing, no down payment is required. The loan amount may not exceed 100% of the appraised value plus the loan guarantee fee.
- Flexible credit guidelines. Non-traditional credit histories may be accepted.
- Fixed 30 year interest rates apply. Lenders and applicants agree upon interest rate.
- Eligible closing costs and lender fees may be included in the loan or paid by the applicant.
- Eligible repairs and improvements may be included in the loan.
- Applicants apply with an approved lender of their choice.
- Not limited to first time homebuyers.
Phillippe Builders Preferred Lenders
Mortgage Loan Officer, NMLS #409740
Phone: (219) 755-6617, ext 4624
Fax: (219) 757-5678
5191 West Lincoln Hwy, Crown Point, IN 46307
Diamond Residential Mortgage Company
Senior Loan Officer, NMLS #258561
Phone: (219) 736-8442 ext. 18
Mobile: (219) 682-4208
575 W. 84th Dr, Suite 2, Merrillville, IN 46410
Vice President of Mortgage Lending, NMLS ID #263572
Phone: (219) 293-4032
Mobile: (219) 477-9278
8051 Wicker Ave, Suite C, St. John, IN 46373