Every homeowner’s journey is unique, and we’re committed to making the path to homeownership as smooth and rewarding as possible.
Through our preferred financing partners, homeowners have access to experienced lenders who understand the new-home construction process and help streamline the journey from contract to closing.
Whether you’re purchasing your first home, moving into your next home, or beginning a new chapter, we’re here to provide guidance every step of the way.
Focus on the excitement of homeownership—not the financing process.
Before you start shopping for homes, it’s important to get pre-approved for a mortgage. This process involves submitting your financial information to a lender who will assess your creditworthiness and provide an estimate of how much you can borrow. A pre-approval gives you a clear idea of your budget and shows sellers you’re a serious buyer. Our preferred lenders listed below are a great resource to start the process.
A down payment is the amount of money you intend to pay cash for relative to the amount financed. While it can range from as little as 3% to as much as 20% or more, the larger the down payment, the smaller your loan will be (20% down payment yields an 80% loan), which can result in lower monthly payments and better loan terms.
Don’t confuse your down payment with earnest money. Earnest money is the amount Huron Homes requires you to deposit at contract as a security measure to move forward with constructing your home. Depending on the home, this ranges from 10%-20%, and is considered part of your down payment; with the balance of the down payment due at closing.
For example, if you intend to finance 80% of the home’s purchase price, the bank will require you to pay 20% in cash paid by closing. If 10% earnest money is required by Huron Homes this would be paid at contract, and the balance of the 20% will be paid at closing.
There are several types of mortgages, each with its own benefits depending on your financial situation:
Fixed-Rate Mortgage: This is the most common mortgage type, where the interest rate remains the same for the entire term of the loan (typically 15, 20, or 30 years). Fixed-rate loans offer predictable monthly payments and are ideal for homeowners who want stability.
Adjustable-Rate Mortgage (ARM): An ARM offers a lower initial interest rate that can adjust periodically based on market conditions. While the starting rate may be lower than a fixed-rate mortgage, it can increase over time, which can lead to higher payments. ARMs are often a good option if you plan to sell or refinance before the rate adjusts.
FHA Loan: A Federal Housing Administration (FHA) loan is designed for first-time homebuyers or those with less-than-perfect credit. These loans require lower down payments (as low as 3.5%) and more flexible credit requirements, making homeownership more accessible.
VA Loan: Available to veterans, active military members, and their families, a VA loan typically requires no down payment or private mortgage insurance (PMI), and offers competitive interest rates. This is one of the best options for eligible borrowers.
USDA Loan: The U.S. Department of Agriculture (USDA) offers loans with no down payment for homes in eligible rural areas. These loans have specific income limits and are a great option for buyers who want to purchase a home outside of urban centers.
Jumbo Loan: A jumbo loan is used for homes that exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). These loans typically have stricter qualification criteria and higher interest rates but are necessary for buying high-value homes.
In addition to your mortgage, be sure to budget for other monthly and annual costs, such as property taxes, homeowner’s insurance, private mortgage insurance (PMI) if your down payment is under 20%, and closing costs. These can add up and affect your monthly payments.
Mortgage rates can vary from lender to lender, so it’s important to shop around and compare offers. Even a small difference in interest rates can save you thousands of dollars over the life of your loan.
By understanding your financing options and the different types of mortgages available, you can choose the best loan for your needs and set yourself up for a successful home purchase. Try our easy to use mortgage calculator to explore the monthly payment that is right for you. Once you determine you ideal loan amount, contact one of our preferred lenders below.
Be sure to work with a trusted lender who can guide you through the process from start to finish! Our preferred lenders understand the Huron Homes contract, process, plans, and may have programs available with discounted rates, 6-12 month rate locks, float downs, and contributions to closing costs (subject to availability at time of inquiry).
Illinois Preferred Lender Team
Russ Gelberg NMLS #194431
P: 847.736.0446
E: rgelberg@wintrustmortgage.com
Wisconsin Preferred Lender Team
Don Roberts NMLS #488895
P: 262.945.1805
E: droberts@
*The calculations derived from the mortgage calculator or otherwise advertised are for illustrative purposes only, and do not reflect all potential HOA fees, real estate taxes, homeowner’s insurance, hazard insurance, mortgage insurance or special assessments. Actual loan interest rates and payments are based on multiple factors including market conditions, points, loan amount, loan-to-value, borrower’s credit, property type and occupancy. This is not an offer to lend. The Huron Group, Inc. is not a lender and there are no assurances that a purchaser will qualify for any loan or financing.
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*Prices, promotions, incentives, offers, availability, features, options, amenities, floor plans, elevations, designs, materials and dimensions (may vary from actual construction), and all other website content are subject to change without notice. Sample monthly payment where presented, is an estimate based on lowest price base floorplan model in the community, and includes principal, interest, and estimated taxes, PMI, and insurance, 20% down payment, 30-year fixed rate loan. Subject to approval by third party lender. Not an offer to lend. HOA (if applicable) and other fees not included. Price, payment, rate, term and other features are examples only and subject to change without notice. Incentives (including seller contributions) may require use of certain title companies or independent lenders. Please see new home counselor for additional information. We require buyer’s brokers and agents are present and registered with the home buyer at the first visit (virtual or onsite) to receive a commission. A written contract by and between purchaser and The Huron Group, Inc. shall govern the sale and purchase of the property exclusively. Purchaser shall not rely upon any information pertaining to the property presented on this website in their decision to enter into a contract for the property. The plans and renderings depicted are the sole and absolute property of The Huron Group, Inc.; or copying of these plans, without the express written consent of The Huron Group, Inc. is illegal. Equal Housing Opportunity.
