TrueLife Real Estate Solutions, in partnership with Sherco Construction, makes New Home Construction in Scott County MN possible for as little as 3% down.
If you qualify to buy a previously owned home, you can qualify for a new Sherco home.
Normally, New Home Construction in Scott County MN requires 20%-30% down to secure a new construction loan. On a $400,000 home, that is between $80,000-$120,000 down, making it difficult to afford the home you want.
With our 3% down program, Sherco carries the construction loan, making the down payment on a $400,000 home just $12,000! Sherco makes owning the new home you want an affordable reality!
To learn more visit www.3downhomes.com
Sherco Construction, founded in 1994 by Tom Carlisle, has successfully completed New Home Construction in Scott County MN. Proud members of the Builders Association of the Twin Cities, the Builders Association of Minnesota, and the National Association of Home Builders, Sherco possesses the business acumen and quality of craftsmanship that you should expect from home builders in Scott County.
New Home Construction in Scott County MN—Just 3% Down
Purchasing New Home Construction in Scott County MN has never been easier, or more affordable! Here is how:
- The prospective buyer obtains a conditional pre-approval prior to writing a purchase agreement on a new Sherco home.
- Sherco Construction and the buyer have a planning meeting to establish a house plan and begin the quotation process. Sherco charges $1000 plan and quote fee.
- The home is quoted and presented to the buyer for approval and execution of a purchase agreement at which time the buyer presents funds representing 3% of the purchase price. The 3% down earnest money will be held by a real estate broker representing Sherco in the broker’s trust account.
- The house plans and purchase agreement are sent to the financing vendor for appraisal prior to construction. In addition, the lender secures an underwriting commitment for the buyer. Upon a successful appraisal, the buyer contacts the financing vendor and requests a 120-180 rate lock. Sherco Construction begins construction once the rate lock is in place. Typically, the new home will have a certificate of occupancy in 90 to 120 days from groundbreaking.
- Upon successful lot closing, the 3% down payment money becomes nonrefundable down payment monies and is used as directed by the purchase agreement.
- The home is constructed and closed to the terms of the purchase agreement.