Our kit builder program for panelized kit homes provides a comprehensive array of goods and services that allow you to own your own home with little or no down payment. Our program allows you to act as the Project Manager, thereby reducing the cost to build your home and potentially build equity. This equity ultimately serves as your down payment and empowers you to gain access to home ownership.
HBN has formed strategic alliances with leaders in the lending and building materials markets for kit homes. Each of these companies is responsible for serving you at predetermined milestones centered on their core business.
By allowing each company to guide you through the portion of your kit builder project for which they are best equipped, we ensure you are working with the most qualified individuals every step of the way.
What Does HBN Do?
Once you have received loan qualification, one of our Account Executives will help you complete the paperwork necessary to get your kit builder project underway. This includes:
- Helping you find a kit house to suit your needs
- Selecting material specifications and color choices
- Establishing a preliminary construction budget
- Provide you with references of contractors in your area when available.
Once your order has been submitted to HBN, our office staff will review your information and begin the process of coordinating your project with the lender and material supplier. We will:
- Help you through the process of making kit house plan modifications, or the customization and pricing of your own house plan.
- Assist and guide your interaction with the building department to ensure you meet local codes.
- Provide forms management including the review and finalization all forms and ensuring the specifications you chose are represented within paperwork and forwarded to the appropriate material supplier.
What Does The Lender Do?
The lender will provide owner kit builder construction financing that will allow you to act as your own general contractor for your kit home. You will be offered competitive interest rates and terms, financing of land, material, labor and closing costs, no payments during construction and generally a one-time close. The lender processing your loan will:
- Provide you with a preliminary loan approval.
- Review income documents and underwrite file.
- Order appraisal and title work.
- Coordinate your final loan approval and construction loan closing.
- Arrange for site/progress inspections.
- Process draw request and disbursements to pay subcontractors.
- Convert your construction loan to permanent mortgage at project completion.
What Does the Material Supplier Do?
After loan closing, the kit builder home material supplier will provide you with material fulfillment, construction and technical support. This includes:
- Provide your final blueprints.
- Provide materials according to final specifications. Assist you in the scheduling of your materials delivery.
- Produce your home in their controlled factory environment.
- Arrange for the delivery of your materials based on a mutually acceptable schedule.
- Provide assistance and guidance for construction or technical questions.
Where Do I Fit In?
Any builder will tell you a house is only as strong as the foundation on which it is built. At Home Builder’s Network, we believe our customers are the foundation on which our program works. If you have the desire and the motivation to be your own Project Manager and work at making your kit home construction project a success, then you may have what it takes to be an HBN customer. Here are some of the items you will handle:
- Obtain bids to substantiate preliminary budget.
- Find land in a neighborhood where you want to live.
- Choose a kit home design and options/upgrades to make this house your home.
- Work with your building department to obtain building permit and identify code related items.
- Select and schedule contractors and watch over their work through the completion of the project
- Confirm and receive delivery of materials.
- Submit draws authorizing payment for work completed.
- Complete payment to subcontractors upon satisfactory inspection and completion of work.
- Oversee the construction of your kit home and keep the project on schedule and within budget.
What’s The Benefit?
The average HBN customer earns $30,000 - $40,000 in equity by participating in the program. For example, a 2,000-sq. ft. home, which appraises at $210,000 and cost $180,000 to build, will realize $30,000 in equity. You also have the option of performing aspects of the kit builder project for which you are qualified. This can potentially increase your equity. Or you can hire subcontractors for the entire project. Items customers typically choose to perform include painting, drywall and trim.
Your participation and HBN’s access to quality materials, home building services and construction financing are the key. With 100% financing for land, labor, materials and closing costs, the average HBN customer invests less than $1,000 to get on the way to home ownership.
What’s The Catch?
Commitment. This process is not easy but it is manageable with our assistance However, you need to be motivated, organized and committed to getting involved in the process. Over the course of your kit builder project you will need to spend time overseeing the construction of your kit home and keep everything on schedule and within budget. This includes daily site visits and checking in on the progress on the weekend.
Along with your hard work is the normal risk associated with the construction process. Budget overruns, scheduling conflicts and unexpected construction issues can and do occur in any new home project. Being your own project manager means that you will need to work through these issues, but it also means you are in control of the planning and can help to avoid them.
But motivation can only do so much, if you don’t have the proper tools to get the job done, you won’t get very far. That’s why HBN has established its alliances with national lenders and leading members in the building industry to provide you with a complete package of services to help make your project a success.
What’s The Next Step?
By now you should be asking yourself, what’s my next step? It’s simple, invest a little time in your future, and find out if you qualify for our unique kit builder program.
The most important step is to ensure you qualify for the financing and determine a loan amount that you can afford. After you have been pre-approved, HBN will work with you to price various kit homes, find land and prepare a preliminary budget. Use the "Contact Me" page to take your first step.
If you are not pre-approved at this time, HBN will work with you and help you qualify at a later date. You may need to clean up some credit issues, pay down some debt or start with a smaller home. In any case, take the first step, invest a few minutes in your future and pre-qualify for our kit builder program today.
