Frequently Asked Questions

A construction loan is a temporary financing option, typically lasting six months, designed to cover your home building costs. This type of loan allows for interest-only payments on the drawn amount, with common practices involving 4-5 draws managed by Billman for each home. Your land purchase can often be included in the initial draw. Upon completion of your home, a final closing takes place to transition your loan to a long-term mortgage, with repayment terms extending over 15 or 30 years, ensuring a smooth financial process from start to finish.

At Billman, this critical service costs you nothing. We pride ourselves on offering comprehensive planning services — including drafting and redrafting at a small fee. Detailed estimating is at no cost until you sign a contract with us to build your dream home. Our commitment is in helping you receive the best possible experience and outcome, without any upfront financial obligation.

In Minnesota, the law requires contractors to warrant their work under Chapter 327A of the Minnesota Statutes. This legislation ensures your new home comes with a one-year warranty covering all aspects, a two-year warranty for electrical and mechanical systems, and a ten-year structural warranty. These protections are tied to the home itself, providing peace of mind and security for both the current and any future homeowners.