Monthly Archives: July 2015

Selecting the Right Construction Loan Lender

ConstructionFinding the right lender is a vital beginning to home ownership. Before ground breaks or a builder is selected a lender is needed. It is important to get pre approval with a lender prior to setting your budget to see what you will qualify for or how much house you can actually afford. It is also good idea to have the lender give you the basic requirements necessary to secure financing, so you are prepared.

One of these requirements will be to have a licensed contractor. As a licensed contractor, Moore Development can guide you to a competitive lender. We are accustomed to working with various lenders and loan types and can make the process as straightforward as possible.

When financing the construction of your new home, the options will vary a great deal. Part of shopping for a lender is comparing the available programs to see what will work best for your situation. Often times a lender will have opportunities for Construction – Perm Loans or Construction Only Loans. The advantage to doing a Construction Perm Loan is that you have one closing with one set of closing fees and you already have permanent financing in place. However, if you run over budget, you will need to come up with additional funds or take a second loan. The benefit to doing a Construction Only loan is you are able to shop around for a permanent loan, and you can modify the loan amount should you go over budget. The drawback to a construction only loan is there are two closing with two sets of fees and you could have difficulty finding permanent financing. Finding a lender who will work for you to get the best deal is essential.

Don’t forget Moore Development is ready to be your resource and solution to building your new home

Ready to Build? How to Find a Reputable Home Builder

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Ready to Build?

There are several things to look for when searching for a reputable builder. Often times you will find your perfect home builder through a friend or family member that has previously used a contractor on one of their projects. Your lender or area realtors can also provide valuable information on the top builders in the area. However, you definitely want to do your own research before you sign the dotted line. A simple internet search is a good starting place to find a contractor. Most builders will have photos and information of completed homes on their website. This is a good resource to see what type of homes the builder is accustomed to building. Minimizing your list to two builders is a good idea as you move into the interviewing phase.
A qualified builder doesn’t need to be a large organization with a $50,000 marketing budget or flashy billboards. The best builder needs to be available and hold the experience necessary to build your home according to your needs and requests.  The most important step is to verify that the builder is experienced and licensed. Likewise, you will want to confirm references from past or current customers. If possible, a tour of a completed project would be ideal.

Moore Development is ready to meet with you, taking the time to get to know you and your needs; following up with a well written and clear estimate. We are a call away and are available to address any concerns or questions.

Five Ways to Save for your Down Payment on a New Home

mortgage-settlement-closingYou are ready to build your dream home in the perfect location. You go to your lender to start the process and they drop the bomb on you. You need a 5% – 20% down payment to build. For some this can be a total surprise and can be quite overwhelming, while others may have been prepared for this requirement.  An important part of building a new home is saving for the down payment.

Here are five tips to help you reach your goal:

  1. Set a Household Budget and Stick to it. Include a Savings as a line item in your budget. Delete any unnecessary expenses such as cable, etc. from your budget.
  2. Avoid obtaining any new credit, and consider transferring balances of high interest rates credit to a no or lower interest rate option.
  3. Place any unexpected income such as gifts, tax refunds, etc. in your savings. Get a pay raise? Take the extra and put it into your savings as well.
  4. Trade out higher cost expenses and swap them out for a more affordable option. Skip the morning Lattes and have coffee at home. Disconnect cable and subscribe to Netflix. Eliminate your home phone and just use your mobile phone.
  5. Use your resources. Sell an item you are not using. Pull money from an IRA, as you are not penalized on money used for first time home purchases.

Set the goal and start working towards it today.   If you are already there, or once you accomplish it, call Craig at Moore Development for a new construction proposal. You will be in your new home in no time!

Oak Island, NC is THE Location

Oak Island is the location for you!  One of the first steps and most important steps of building or buying a new home is to find a location that you are happy with.   You may have heard the expression “location, location, location” a few times and the reason is because location is ultimately the most significant decision in the home building or buying process.   

When looking for a new home or home site, some of the characteristics to look at are climate, convenience, leisurely activities, community, and resale values. 


Oak Island-Southport, NC is a pleasant coastal area with a year-round temperature average of 70°F, with the small town ambiance that many long to escape. 

This community offers all the conveniences and activities available including shops, restaurants, local art galleries, and beaches. 

If you are looking to retreat to a slow paced life style of relaxation and fun, this area is for you.  Average home costs are in the $200K range and resale values are stable. 

Moore Development is waiting for you to share your dream home plans with us. Call today for a consultation!

Oak Island Lighthouse

Oak Island Lighthouse

Happy 4th of July from Moore Development!

Caroline Moore working - Beach Day 2015

Caroline Moore working – Beach Day 2015

Happy 4th of July from Moore Development!

Moore Development is located in Oak Island, NC.  Southport-Oak Island Area is the Home of the North Carolina 4th of July Festival. Southport is #5 of the top 10 small town 4th of July celebrations in the United States according to Yahoo Travel.  If you have never been here during the festival you are truly missing out.  Visit  for more info and an events calendar.

Today is Beach Day at Oak Island NC including a Fireworks Display at 9:00 pm.  This is a day next to the beach with everything from Sand Sculpture Contests to Shag Contests and other fun activities.  Come for a visit to see what a nice, relaxing and fun area Oak Island is.  While you’re here check in with us here at Moore Development to discuss your building options in such a desirable community.