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Financing for building a new home from the ground up or major renovations. Features progressive disbursements during construction with interest-only payments, converting to a permanent mortgage upon completion.
A construction loan is right for you if you want to build a custom home or undertake a major renovation project. These loans provide financing during the construction phase and can convert to a permanent mortgage when building is complete.
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Min Credit Score
680+
Min Down Payment
20%
Max LTV
80%
Max DTI
43%
Loan Limits
Varies by program; up to conforming or jumbo limits
PMI / MIP
No PMI typically required with 20%+ down
Occupancy
Primary, secondary, or investment property
We review your financials, building plans, construction budget, timeline, and contractor credentials to determine eligibility and structure the best construction loan program.
Submit your full application along with detailed construction plans, specifications, cost breakdown, contractor license and insurance, and the construction timeline.
The underwriter reviews your financials, the construction plans, the appraised future value, and the contractor. A construction-to-perm loan locks in both your construction and permanent terms.
Funds are disbursed in stages as construction milestones are met. Inspections verify progress before each draw. Upon completion, the loan converts to your permanent mortgage.
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Rates, terms, and availability of programs are subject to change without notice.
Explore other loan products that might be a good fit for your needs.
Short-term asset-based financing for real estate investors. Ideal for fix-and-flip projects, bridge loans, short-term rentals, and ground-up construction with fast funding.
Debt Service Coverage Ratio loans for real estate investors. Qualification is based on the property's rental income rather than personal income, making it ideal for portfolio builders.
A traditional mortgage not insured by the federal government. Ideal for borrowers with strong credit and stable income who want competitive rates and flexible terms.
Financing for high-value properties that exceed conforming loan limits. Ideal for luxury homes and high-cost real estate markets in Southern California.
Apply online in minutes or call us to speak with a loan advisor about your Construction options.
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Rates, terms, and availability of programs are subject to change without notice.
These FAQs are generated with AI assistance and reviewed periodically. For personalized advice about your specific situation, please call us or apply online.