Stratford Home Center
Construction Contract Payment Schedule
Cash Sale
- 10% of total C.A. at time of signing the construction contract.
- 40% of total C.A. prior to construction of the home at the SBC factory.
- 25% of total C.A. when home set on the foundation.
- 15% of total C.A. when exterior of home, including garage when applicable; but not including decks, sidewalks, and landscaping, etc. is complete.
- Final 10% of C.A. (less $1,000.00 PSA deposit) when home is complete, and prior to possession.
Mortgage
- 10% of total C.A. at the time of signing the construction contract, either customer's cash payment, or a combination of cash and mortgage proceeds.
- At the end of each month commencing with the month site work begins, SHC will submit progress payment requests to the lender, with payment to be received by the 10th of the following month.
- SHC to submit an invoice to the lender, for the amount of the home itself. This amount would be due either at the time home is ready for shipping to the site, or upon delivery to the site, depending on the Lender's lending policies.