The following questions are critical to the success of financing a Dream Home. Many of these questions are inter-related.  The answers to these questions will help describe your unique situation to the underwriters.  Don’t worry though; NHM will guide you all the way!
New Home Mortgage Corp can help you analyze and prepare for all these and other questions helping you obtain approval the first time at the right lender for your project.  Some of these questions may not apply, they simply give you some areas to think about.

1. How much do you owe on your land?
2. How big of a home are you planning to build?
3. How much are your soft costs and what is included?
4. How much are your hard costs and what is included?
5. What is the future value of the home you are building?
6. Are you maximizing your property's value or are you under or over building for the area?
7. How much have you spent so far?
8. Do you have enough cash or equity into the project to qualify for a loan?
9. Do you have copies of paid receipts including cancelled checks for all items you have pre-paid?
10. Have you accounted for an interest reserve?
11. Have you accounted for all of the closing costs?
12. Are you including Landscaping costs in your budget?
13. Do you plan to live in the home for a short or long term?
14. Do you have budgeted each and every detail of the build down to the doorknobs and hinges?
15. What is your break ground date?
16. Have you completed a line item cost breakdown?
17. What is the foundation type? Are you on a sloped, hill or flat lot?
18. Are you using an architect or designer? 
19. What is the zoning of your property?
20. Are you planning to build the home yourself (owner-builder)?
21. Does your city require a licensed general contractor?
22. What is the present value of your lot?
23. How is the title held on the property?
24. Do you know what you can build in your area (i.e. Any deed restrictions?)
25. Do you have a Home Owner's Association?
26. Are you in a flood zone?
27. What type of area is your lot (rural, urban or suburban)?
28. Do you know the permitting process for your area?
29. Have you already begun construction?
30. Is your lot bare land or are there any structures currently on the property?
31. Have you ever listed the property for sale?
32. Do you know what insurance policies will be required?
33. Is your total cost to build more, less or equal to the future value of the home you are building?
34. What is the value of your current residence versus the new one you are building?
35. Are sales comparables of similar size and valued homes available for your neighborhood?
36. Is the type of home you are building typical for the area?
37. Is your construction contract based on a fixed price or time and materials?
38. Are your architectural plans preliminary or do you have a set of working drawings?
39. Have you put out bids for the construction?
40. Is your income enough to qualify for the loan amount you need?
41. Are your liquid assets sufficient to qualify?
42. Are you building on more than one lot?
43. How is your credit?
44. Do you own any other Real Estate?
45. Will you occupy the home you are building?
46. Are you self-employed? If so, for how long?
47. Does your builder meet the lender's criteria?