Thurman Homes Blog

Thinking about your next move? For many of us, the decision to leave a current home and build or buy new is about more than just a change of address—it's about a lifestyle upgrade. Whether you're a seasoned homeowner looking for more space or a tech professional relocating to Austin for a new job with a company like Tesla, the financing process can feel overwhelming.

The good news? It doesn’t have to be. As your trusted homebuilder in Central Texas, we at Thurman Homes believe in empowering our clients with the knowledge to make smart decisions. That’s why we’re breaking down the different types of financing for new construction homes.

1. Conventional Loans

This is the most common type of mortgage. Conventional loans are not backed by a government agency and are a great option for move-up buyers with strong credit. They offer flexibility in terms, and often provide the best interest rates for well-qualified borrowers. They are divided into two main categories:

• Fixed-Rate Loans: The interest rate and monthly payment remain the same for the entire loan term, providing predictability and stability.
• Adjustable-Rate Loans (ARMs): These loans offer a lower initial interest rate that is fixed for a set period (e.g., 5 or 7 years) and then adjusts periodically based on market indexes. An ARM can be a good option if you plan to move or refinance before the fixed-rate period ends.

For those with significant equity in their current home, a conventional loan is a straightforward path to financing your new Thurman home.

2. Jumbo Loans

Given the dynamic nature of the Austin real estate market, a jumbo loan might be the right fit for you. These are conventional loans that exceed the conforming loan limits set by government-sponsored enterprises. Thurman Homes offers a diverse price range of homes, from luxury downtown condos to suburban communities priced around Austin's median home value, as well as custom builds for any price point in between. A jumbo loan is a popular option for financing these larger homes.

3. Bridge Loans & HELOCs

For move-up buyers who need to finance their new home before their old one sells, a bridge loan or Home Equity Line of Credit (HELOC) can "bridge" the financial gap. A bridge loan is a short-term loan that leverages the equity in your current home. A HELOC allows you to borrow against your home's equity as needed. Both can provide the cash for a down payment and closing costs, giving you the flexibility to move into your new home on your timeline.

Partner with an Expert

Navigating these options and finding the right fit for your unique situation is crucial. That’s why we have a long-standing partnership with our preferred lender, Arien Bowersock of The Home Loan Expert. Arien is a Central Texas native with deep knowledge of the local market and the specific needs of buyers like you. She and her team don't just process loans; they provide the education, calculators and tools you need to feel confident about your financial decisions.From detailed explanations of loan types to personalized consultations, Arien ensures a smooth and transparent financing process.

Arien’s Approach

Quick: Arien and her team have a reputation for getting buyers pre-approved quickly.

Homeownership Hurdles: She gets people approved to buy, even those who never thought they could.

In-Depth: Her knowledge extends beyond simple paperwork; fluent in the nuances of new construction financing.

Easy: She and her team simplify what often feels like a complicated process.

At Thurman Homes, we believe in surrounding ourselves with expert partners who can make your homebuying journey a seamless and positive experience. Arien and her team exemplify this commitment, helping to ensure you're fully qualified before a single contract is signed. By providing the education and personalized support you need, they help you make the best financial decisions for your future.

Ready to see how our expertise can benefit you? Contact Arien Bowersock to explore your financing options, then schedule a product tour to experience the Thurman Homes difference firsthand.