Similar to Turnkey Construction, Turnkey Financing is a unique and comprehensive service that Hallmark Homes offers to all of its customers. Simply put, Hallmark Homes will carry the cost of construction until the home is complete. For example, when the foundation is put in the ground, we pay the bill. When the home is set on the foundation, we pay the bill. For the weeks after the set in which the carpentry crew works to finish the home, we pay for both the labor and materials. Our financing service can even extend to the land acquisition costs if our clients so choose.

What does this mean for the customer? First and foremost, there is no need for a construction loan. Customers need only obtain a commitment letter from their bank, and in conjunction with a small security deposit, Hallmark will move ahead with the building process. For those not familiar with construction loans, this type of borrowing places the burden of construction costs squarely on the shoulders of the customer. As soon as any work starts on the home, the customer taps their construction loan funds to pay the bills and their interest meter begins to run. Conversely, with Turnkey Financing the customer expends none their own capital (or more likely their bank’s capital), except for the aforementioned deposit, until the home is finished. Our customers do not encounter the unpleasant experience of paying the rent/mortgage for their existing home and also another mortgage for their home-under-construction. Simply put, no money is paid to Hallmark Homes until the home is complete.

And the benefits don’t stop there. Ponder this advantage of Turnkey Financing: banks would much prefer to offer mortgages for finished homes than they would partially completed homes. As a result of the significantly diminished risk associated with Turnkey Financing, banks generally offer substantially lower fees and better interest rates for conventional loans (via Turnkey Financing) versus construction loans. Check with your lender and see for yourself.

And last but not least, how about this perk of Turnkey Financing: if Hallmark Homes doesn’t get paid until the home is finished and inspected, guess who has the incentive to keep the project on schedule? That’s right, with Hallmark’s financial resources on the line it’s in our interest (no pun intended!) to keep the project moving along efficiently. That’s not to say we’ve never encountered setbacks for one reason or another, but bear in mind that we dislike those delays just as much (if not more) than our customers. Have you ever seen a home under construction for six months? Nine months? A year? It’s doubtful that the builder was financing the construction project via Turnkey Financing. We can also assure you that it was not a Hallmark-built home.