Construction Loans
A construction loan is a short-term financing option that helps borrowers build a new home or property. With a one-time close construction-to-permanent loan, the cost of the land, construction, and final mortgage are combined into a single loan, requiring only one closing. This simplifies the process, reduces closing costs, and avoids the need to re-qualify later. These loans are available for various property types—including primary homes, second homes, and investment properties—and often offer low down payment options. Borrowers can build on newly purchased land or land they already own.
Key Features
A construction loan is ideal when you're ready to build a custom home, especially if you’ve found the perfect lot or already own land. It’s a smart choice when existing homes don’t meet your needs or when housing inventory is limited. With one-time close options, it’s also great for locking in rates early and simplifying the financing process from start to finish.
One-Time Close
Combines land, construction, and mortgage into a single loan with just one closing.
Lower Closing Costs
Save money upfront by avoiding multiple loan closings.
Flexible Property Options
Eligible for one to four unit homes, detached condos, and manufactured homes - multiple property types!
Low Down Payment Options
Makes it easier to get started with less out of pocket.
Eligible for Multiple Property Types
Can be used for primary residences, second homes, or investment properties.