Construction Loans

Whether you're an investor building a spec home or a family building your forever home, our construction loans provide the capital you need to turn plans into reality.

Build From the Ground Up

Construction loans are short-term financing options used to cover the costs of building a home. Unlike traditional mortgages, the funds are not paid out all at once. Instead, they are released in stages (draws) as construction progresses.

Types of Construction Loans

• Construction-to-Permanent: A single-close loan that covers the build and converts to a standard mortgage when finished.
• Construction-Only: A short-term loan that must be paid off or refinanced into a permanent mortgage once construction is complete.
• Owner-Builder: For borrowers who are acting as their own general contractor (requires extensive experience).

What Can You Finance?

• The cost of the land (if not already owned)
• Permits and fees
• Labor and materials
• Closing costs and contingency reserves

The Process

1. Approval: We evaluate your finances, the builder's credentials, and the project plans/budget.
2. Closing: You close on the loan before construction begins.
3. Draw Period: The builder requests funds as milestones are reached. We send an inspector to verify progress before releasing the draw.
4. Completion: Once the home receives a Certificate of Occupancy, the loan converts to a permanent mortgage (if using a one-time close program).