Construction Loans
Build or Improve
Construction Loans
Construction financing up to $4 million — for eligible borrowers building a new home or completing a major renovation, subject to qualifications, lender guidelines, project approval, property, and location.
Who May Benefit
- Borrowers building a new custom home on owned or purchased land
- Those undertaking major renovations requiring construction financing
- Buyers who want to build rather than purchase an existing home
- Borrowers with strong credit, documented income, and significant assets
- Those with an approved builder and detailed project plans
How It Generally Works
Construction loans fund the building process in stages called draws, released as work is completed and verified. Unlike a traditional mortgage, you typically pay interest only on the amount drawn during construction. Once the home is complete, the loan converts to or is replaced by a permanent mortgage.
Lenders typically require detailed plans, a budget, a licensed builder, and regular inspections. The borrower, builder, and project all go through an approval process. Construction financing is more complex than a standard purchase loan — a conversation with Courtney is the best starting point.
Key Considerations
Builder and Project Approval
The lender reviews and approves the builder, plans, and budget as part of the loan process. Not all builders or project types will qualify.
Draw Schedule
Funds are released in stages as construction milestones are completed and verified by inspections. You typically pay interest only on amounts drawn during construction.
Conversion to Permanent Financing
At completion, the construction loan converts to or is replaced by a permanent mortgage. The terms of the permanent financing are part of the overall loan structure.
Up to $4 Million
Construction financing up to $4 million is available for qualified borrowers, subject to lender guidelines, project approval, property, and location. Not all borrowers or projects will qualify at this level.
Construction financing availability depends on borrower qualifications, lender guidelines, project approval, property, and location. Not all projects or borrowers will qualify. Terms and availability subject to change.
Frequently Asked Questions
Building Your Dream Home?
Construction financing up to $4 million is available for qualified borrowers. Let's talk through your project.