This is Part 4 of the HSH Construction Loan Primer.

Here's a typical advance schedule. You'll see that, even though there are only a few advances, there are well over a dozen phases to the construction itself.

Sample Advance Schedule

First Advance:

Lot cleared

Excavation

Footings and foundation poured

Water proofing, drainage system completed

Foundation backfill and initial grading completed

Second Advance:

House (and garage) framed

Exterior sheathing completed

Subflooring installed

Roofing installed

Windows and doors installed

Walls roughed in (including garage and basement)

Connection to sewer system (or septic system installed)

Connection to water system (or well drilled)

Third Advance:

Plumbing and electrical wiring roughed in (not all fixtures expected to operate)

Heating/AC system(s) roughed in

Insulation and drywall completed (including spackle & paint)

Exterior siding installed (or at least one coat of paint)

Exterior cosmetics complete (window trim, railings, etc)

Final advance:

Interior (and exterior, if necessary) painting completed

Outside steps, decks, porches etc finished

Driveway, walkways completed

Inside doors installed

Interior cosmetics (window trim, door mouldings, etc) done

Floor coverings installed

Bathroom and kitchen cabinets/fixtures installed

Plumbing completed and tested

Electrical system complete, all fixtures in place and working

Heating system installed and working

Yard graded and seeded; landscaping (trees, shrubs, etc) complete

At this stage, your home should be in move-in condition; even the windows should have been cleaned, and all building debris carted away. You're not quite ready to move in yet, however. About a week before the last advance is made, the lender will require:

• The permanent Certificate of Occupancy, or CO
• A final inspection report from the appraiser, to verify that the builder followed the plans precisely
• An "as-built" survey, to be compared with the site plans
• A re-certification of value, and updated credit reports.

Finally, you're finished. The home is built, everything is installed, the trucks and trailers have moved out, and you receive the keys to the front door.

Need to Find A Lender? Try the HSH Homeplans Construction Lender Directory.

Go Back To: Part 3 of the HSH Construction Loan Primer.