Frequently asked Questions

 

Here are several frequently asked questions with answers for financing the construction of new homes:

Can you finance 100% of the construction of my new home?

Yes and No.  Lenders almost always want you to have some level of investment in your newly constructed home.  But for example if you already own or have significant equity in your building lot, typically you can finance 100% of your construction loan along with the balance owed on your lot.

Do I need excellent credit to obtain a construction loan?

No.  You normally need average credit to obtain a construction loan.  Steel Blue 1 LLC has innovative ways to make your newly constructed home happen. 

How much money do I need to get started?

Some cash, savings, or equity is required but you will be surprised how little.  Each individual case needs to be reviewed.

Are there only a few loan programs to choose from?

No.  More than ever there are many programs to choose from.  Your Steel Blue 1 construction specialist will work with you to choose one that makes sense for your financial goals.

Can I provide “Sweat equity” as part of my loan program

Yes.  The lenders will allow “sweat equity” as long as there is a general contractor who takes responsibility.  In this case DB Homes.  All the lender really wants is that when the home is finished the value stated in the appraisal report is realized.  Work with DB Homes to provide “sweat equity” as part of your home investment.

How do lenders look at the value of modular versus “stick built” homes.

From the outside and inside of modular homes you can not tell the difference between modular built and “stick built” homes.  The appraisal report thus can not distinguish between the two and thus lenders allow the two to be compared.  Practically speaking, there is no difference.

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NOTICE:

This website is designed and operated by Steel Blue 1 LLC.  Steel Blue 1 LLC and DB Homes, Inc are not affiliated and operate as separate independent companies.  Information, photos, and logos owned by DB Homes are used with their permission.

 

To contact the main office of DB Homes call 814-262-7525.

To contact the main office of Steel Blue 1 LLC call 412-279-BLUE.

 

Steel Blue 1 LLC’s office is located at 142 Barrington Dr., Oakdale, PA 15071.

Steel Blue 1 LLC is licensed by the Pennsylvania Department of Banking.

Steel Blue 1 LLC office may also be contacted by info@steelblue1.com.