CONSTRUCTION LOANS

Thinking about building a new home? A construction loan is a short-term, specialized financing option designed to cover the costs of building or significantly remodeling a property. Unlike traditional mortgages, construction loans provide funds in stages as your project progresses, ensuring you only pay interest on what you use. At the end it converts to a 30-year Fixed loan without the need of refinancing saving you thousands.

ONE-TIME CLOSING NEW CONTRUCTION LOAN

Available on 15-20-25 and 30-year fixed conventional
Eligible on primary, second and investment property
Purchases and Refinances(borrowers that own the land)
Loan amounts up to the conforming loan limits
620+ FICO, up to 95% LTV (700+ better rates)
11-month maximum build period with 1-month modification period
Interest-only monthly payments during the build period
No need to be pre-qualified again at the end of construction

HOW DOES IT WORK?

1. Pre-Qualification: Quick, free assessment to determine your eligibility and budget.

2. Get your Builder onboard: Choose your builder!

3. Loan Approval: We review your credit, income, and builder plans.

4. Draw Schedule: Funds are released in phases (foundation, framing, etc.) as your home is built.

5. Final Review: Final Inspection is done and Certificate of Occupancy is issued.

6. Last Draw: Sign the Final Document to pay your Final Bill.

7. Move-In: Once construction is complete, your loan converts to a standard mortgage.

8. Loan Conversion: Loan Automatically converts to permanent financing.

Why Choose a Construction Loan?

Build Your Custom Home – Finance your project from the ground up, tailored to your vision.
Flexible Draws – Funds are released in stages as construction progresses, ensuring your builder gets paid on time.
Interest-Only Payments – Pay interest only on funds disbursed during construction.
One-Time Close – Combine construction and permanent financing for a seamless process and potential savings.

What You'll Need?

Construction plans and builder contract
Builder qualification
Proof of income (W-2s, tax returns, or bank statements)
Credit check and asset verification
Fill out an application
Pay a $150-$300 Loan Review Fee to the Lender

Why Work With Us?

Personalized Service - We guide you through every step, from application to move-in.
Bilingual Support - English & Spanish – ¡HABLAMOS ESPAÑOL!
Fast Closings - Our streamlined process helps you break ground sooner.
Transparent Communication - You’ll always know your loan status.