New Construction Financing in South Florida: A Step-by-Step Guide | EZ Funding Group Inc.

Building Your Dream Home? Start with the Right Financing.

It's a thrilling moment: you're walking through a model home in a new Miramar, Weston, or Pembroke Pines community, and you can already picture your life there. What’s even more appealing is the view of the gleaming appliances, the modern open floor plan, and even that new home smell.

Here at EZ Funding Group, Inc., we've seen the boom in new construction firsthand across South Florida. But we’ve also seen too many buyers get so caught up in the granite countertops that they overlook the critical financial details. Navigating a builder’s process is different from buying a resale home, and where you get your financing can be one of the most important decisions you make.

Let’s walk through the key steps to ensure your path to a new build is as smooth as possible.

The Builder's Lender or Your Own? How to Choose Your Best Offer.

One of the first questions you’ll face is whether to use the builder’s preferred lender. They often offer tempting incentives, like closing cost credits or upgraded appliances.

• The Builder’s Lender: Their primary goal is to ensure the builder gets paid on time. The incentives are real, but you must get their official loan estimate and compare it line-by-line with an independent quote.

• Your Own Local Mortgage Expert: Our team at EZ Funding Group, Inc. works exclusively for you. We offer unbiased advice and personalized service, and we’re often able to match or beat the preferred lender’s rates. We are your dedicated advocate in the transaction.

The Bottom Line: Always get a second opinion. You owe it to yourself to ensure you’re getting the best mortgage terms for Broward, Miami-Dade, and Palm Beach counties, not just the most convenient ones.

Construction-to-Permanent Loans: One Loan, Two Simple Steps

If you’re buying a home that hasn’t been built yet, you’ll likely need a construction-to-permanent loan.

1. The Construction Phase: We pay the builder in installments (draws) as construction milestones are met. You typically only pay interest on the amount that has been drawn during this time.

2. The Permanent Phase: Once the certificate of occupancy is issued, the loan automatically converts into your standard long-term mortgage.

This "one-time close" process simplifies everything and locks in your rate upfront, protecting you from market increases during the building period.

Don’t Skip This: The Importance of Independent Inspections

Your new home meets building code, so why would you need an inspection? While municipal inspectors ensure a home meets code, their heavy workloads mean details can be missed. A licensed, independent home inspector acts as your essential last line of defense, scrutinizing the workmanship to protect your investment.

We always recommend scheduling inspections at key stages:

• Pre-Drywall: After the framing and plumbing/electrical rough-in are complete.

• Final Walk-Through: Before closing, to identify any cosmetic issues or incomplete items.

This gives you leverage to ensure the builder addresses any issues before you sign on the dotted line. It’s a small investment for immense peace of mind.

Building your new home in South Florida should be a thrilling adventure, not a stressful ordeal. Having our expert team on your side to navigate the nuances of new construction financing can make all the difference.

If you’re thinking about buying or refinancing in South Florida, reach out today to explore your best options. Let's get you the keys to a home that’s truly built for you.

EZ Funding Group, Inc. NMLS #349022 | Jaime Charouf NMLS #348964 | Equal Housing Lender