When is the ideal opportunity to rise and turn your dream home into a reality? The response might surprise you.
by Charles Satterfield | Staff Writer
We spoke with Chuck Cowell, the Dallas Market Chairman for Guaranty Bank & Trust, regarding the economic landscape and lending trends.
GLF: Last time we spoke, you expressed positivity and enthusiasm about the local economy. Do you maintain that same level of optimism?
Chuck: When individuals feel secure about their personal finances and future, they are generally more at ease in making significant purchases, such as new cars or major renovations. We are noticing an increase in inquiries about home improvement and construction loans.
GLF: The phrase “home construction loans” suggests that people are building their dream homes or vacation getaways.
Chuck: We all have visions of how we want to remodel our homes, whether it’s adding a room, upgrading the kitchen, or seriously contemplating living in the house we’ve always envisioned. The inquiries we are receiving are from individuals taking initial steps towards realizing their dreams.
GLF: What guidance are you providing to these individuals?
Chuck: A knowledgeable banker is familiar with local builders and can assist in gathering information about their past projects. A banker can assess whether a builder has a track record of completing projects on time, remaining within budget, and ensuring quality workmanship. Once you’ve identified the right builder, it’s a matter of customizing the financing options to suit your financial circumstances. By the time you choose your builder and consult with your banker on financing, you will have a project budget in place.
GLF: It seems quite straightforward when you put it that way.
Chuck: In a way, yes and no. The overall process is indeed straightforward. Once the builder, financing, and budget are confirmed, it becomes a question of how the project aligns with your long-term plans. I had a client who navigated the process every year for over ten years before finally deciding the timing was right. Today, they love their home and appreciate the guidance they received in making the right decision. Ultimately, it’s about having a banker you can build a relationship with. Each person’s needs require tailored attention. Those with questions are welcome to reach out to us to discuss their circumstances, even if they’re not customers of our bank. Relationship bankers thrive by nurturing growth in families, businesses, and communities rather than merely selling loans. If we can assist, we would be pleased to help.
For further details, contact Chuck Cowell at ccowell@gnty.com or call (972) 447-0800.
