• 720 Minimum credit score required

• 10% down up to $1.25M loan amount (no PMI)

• 15% down up to $1.5M loan amount (no PMI)

• 20% down up to $2M loan amount

• Primary residence (only 1-2 detached units allowed)

• Secondary residence (1 unit only, 15% down to $1M loan amount, and 25% down to $1.5M loan amount)

• Max of 10 acres

• Renovation utilizes As-Completed Value

• 12-24 month construction periods are available

• Fixed and ARMs available

• One-time closing automatically converts to permanent financing at the end of construction

• Only 1 appraisal needed

• Interest-only payments during construction

• No prepayment penalty

• Current property/lot loans must be paid off with a new construction/renovation loan

• 50% deposits can be provided with invoices

• Fast closings possible (30-35 days)

•   No Spec or Investment Builds

• NO FHA/VA Construction

• NO SELF BUILD, EMPLOYER BUILD, or FAMILY BUILD ALLOWED

• No Pre-starts (Broken Priority)

• No Condos

• No Modular, Mobile, or Manufactured homes

• No Barndominiums

• No Foreign Nationals

• No AG-zoned properties

• Cannot close in a Trust

• No Power of Attorney allowed

Construction loans are different animals. They have different rules and qualifying criteria. No feeling is worse than not qualifying for the loan after committing to a lot and builder. It makes for a REALLY bad day and a big mess. All the loan officers listed on this site specialize in Construction Loans ONLY. They are battle-tested, seasoned, and recommended by your peers. Give them a call!

Do you want a Construction Loan Specialist to contact you? We’ve made it easy. Drop your name and phone number in the form on this page, and We’ll let him know you’re looking for him!