At Cutter Construction, we recognize that financing a construction project, whether residential or commercial, can be a daunting task. That’s why we are committed to providing flexible financing solutions tailored to your specific needs. Our goal is to ensure your construction project sails smoothly from inception to completion, without financial strain.

Understanding Our Financing Options

We believe that understanding our financing options is crucial in making informed decisions for your construction projects. Here’s a breakdown of the various options we offer:

GreenSky Financing Partnership

Our partnership with GreenSky Financing, a renowned financial service provider, offers a range of residential financing options. This collaboration allows qualifying customers to access up to $100,000 in financing. This can be incredibly helpful in covering the costs of your project, with the flexibility to use any remaining balance for future projects with us. Upon project completion, GreenSky directly compensates us, ensuring a seamless and hassle-free process for you.

Most Popular Financing Options

12 Months – No Interest No Payments (2521): This option allows you a payment-free and interest-free period for 12 months. However, if the amount is not paid off within this period, it converts into an 84-month loan with an interest rate ranging from 17.99% to 26.99%.

 

12 Months – No Interest with Payments (2611): This plan offers no interest if the amount is paid off within 12 months. Failing to do so will convert it into a 36-month loan with a standard interest rate.

 

Reduced Interest Rate Options: We also offer reduced interest rate plans for longer durations, helping you spread out the cost over time without the burden of high-interest rates.

Commercial Financing Solutions

For our commercial clients, we offer robust financing options up to $1,000,000. These solutions are designed to cater to the unique requirements of commercial construction projects, providing the necessary financial leverage while preserving your business’s liquidity and financial health.

Neighborhood Finance Corporation (NFC) Programs

We also encourage exploring local funding opportunities through the Neighborhood Finance Corporation (NFC). NFC offers various programs catering to different financing needs, including forgivable loans, closing cost assistance, and down payment assistance. These programs are designed to support community revitalization and are accessible based on various qualification criteria.

NFC Forgivable Loan

• Incentive Amount: Up to $15,000
• Description: This loan is aimed at homeowners looking to make significant improvements to their property, such as finishing basements or adding garages. The unique aspect of this loan is its forgivable nature over a certain period, essentially converting into a grant if the homeowner meets the terms.
• Qualification: Available to all homeowners without income limits, making it an attractive option for a wide range of applicants.

NFC Closing Cost Assistance

• Incentive Amount: Between $2,000 and $2,500
• Description: Tailored to ease the financial burden of closing costs, this assistance can make the difference for buyers on the edge of affordability.
• Qualification: Aimed at individuals with incomes between 80% and 120% of the area median income, this program bridges the gap for middle-income families.

NFC Neighborhood Reinvest

• Incentive Amount: $10,500
• Description: This down payment assistance program is designed to encourage investment in specific neighborhoods, fostering community revitalization and homeowner stability.
• Qualification: Targeted at buyers with incomes at 100% of the area median income, supporting moderate-income families in becoming homeowners.

NFC Journey to Homeownership

• Incentive Amount: $15,000
• Description: Specifically designed to support African American/Black homebuyers, this program offers down payment and closing cost assistance, addressing the homeownership gap and promoting equality in housing.
• Qualification: Open to African American/Black buyers earning up to 100% of the area median income, this initiative is part of NFC’s commitment to inclusive community support.

NFC Energy Advantage Program

• Incentive Amount: $10,000
• Description: Encouraging energy-efficient home projects, this loan supports homeowners in undertaking improvements like insulation, window replacement, and more efficient heating systems, leading to lower utility bills and a smaller carbon footprint.
• Qualification: With no income limits, this program is accessible to a broad audience, emphasizing NFC’s dedication to environmental sustainability.

City of Cedar Rapids First Time Home Buyer Program

• Incentive Amount: $1,000 – $14,999
• Description: This program is tailored to first-time buyers, offering substantial support towards down payment and closing costs, making the dream of homeownership more attainable.
• Qualification: Targeted at buyers with incomes at or below 80% of the area median income, it’s designed to help lower-income families break into the housing market.

Federal Home Loan Bank

• Incentive Amount: Up to $7,500
• Description: As funds are available, this program provides down payment assistance, further easing the entry into homeownership.
• Qualification: Available to individuals with incomes at or below 80% of the area median income, reinforcing NFC’s mission to support accessible homeownership.

How We Can Help

At Cutter Construction, we don’t just offer financing solutions; we guide you through the entire process. Our team is here to help you understand each option and choose the one that best suits your project’s needs and your financial circumstances. We take pride in our ability to make your construction aspirations a reality.

 

If you’re planning a construction project and need financial guidance or services, contact us at Cutter Construction. We’re here not only to build your project but also to ensure it’s financially feasible for you. Let’s work together to bring your construction dreams to life, backed by the right financing solutions.

 

Remember, at Cutter Construction, your project’s success is our priority. Reach out to us for an initial consultation, and let’s navigate your financing options together for a smooth and successful construction journey