Investing in a custom home can be an exciting but nerve wrecking experience for some. It is the single most expensive thing our clients have ever purchased, which is why we dedicate so much time to making sure it’s their best investment, from design to which banks we recommend. A home is not just a place to create memories in and lay your head a night, but also a financial decision. We partner with some of the best banks in Denver to ensure that this investment is not only sound, but is stress free throughout the building process. Fortis Private Bank has been our top banking partner for years because they understand the level of customer service and flexibility our clients need. Their competitive pricing puts them at the top of the list, but their overall product, understanding of the custom home building process, and their amazing team is what keeps them there.

In a partnership with Time Magazine, NextAdvisor put out an article outlining what exactly to expect from a construction loan and why having a great builder to help guide the process is important. “They have to appraise based on what they’re reading on a piece of paper,” says Michael Foguth, president and founder of Foguth Financial Group when speaking on the banks processes. “And it’s even more difficult for custom-built homes versus pre-existing, proven designs.” Because of this for “a home construction loan, you get approved based on the strength of the blueprint, the viability of the construction timeline, and the reputation of your building contractor,” the article says.

Our team talks with the Lending team frequently, as well as sets up time to review the plans and specs in detail with the appraiser. This is one of the most critical parts of the process. To our team, and to our clients, it is not just a number. There is a story and specific detail behind each number on the sheet of paper that represents your home. We take the time to walk through every room and intention so the appraiser understands the amount of detail that is going into the home. We build Homes, not houses.

Patrick Brayton, Managing Director at Fortis Private Bank, recently built a custom home in the Denver area with Larsen and fully understands what our clients go through in their design + build process. This makes him uniquely qualified to help our clients and prospects understand the financials behind their custom home. “You’ll want to go with a lender that has experience underwriting construction loans for people who have been in similar situations as you, as your experience with a lender may differ depending on the type of home you’re constructing.”

If you’ve been looking to build a custom home in Colorado but don’t know where to start, we would love to meet with you and set you up with our trusted banking partner to understand what building a custom home could look like for you.

https://time.com/nextadvisor/mortgages/home-construction-loans/

https://www.fortisprivatebank.com/