Construction Loans
Construction Loans
Finance the build of your new home with a single loan that converts to permanent financing.
What It Is
Construction loans provide short-term financing to build a new home. A construction-to-permanent loan (also called a one-time close) covers the build phase and then automatically converts to a permanent mortgage when construction is complete — saving you from two separate closings.
Who Qualifies
Borrowers with strong credit (680+), significant reserves, and a licensed general contractor. The project must have detailed plans, specifications, and a fixed-price contract.
Basic Requirements
—Minimum 680 credit score
—Licensed general contractor required
—Detailed plans, specs, and fixed-price contract
—Significant reserves required
—Down payment of 10–20%
—Appraisal based on completed value
Key Benefits
One-time close — single closing for build and permanent loan
Lock your permanent rate before construction begins
Interest-only payments during construction phase
Funds disbursed in draws as construction progresses
Available for primary residence and second homes
Custom home and spec home options
Ready to Get Started?
Talk to a loan officer today. We'll review your situation and find the best program for you — no obligation.