• 690 minimum credit score required
• 5% down up to $970,800 loan amount
• 10% down up to $1,500,000 loan amount
• 20% down up to $2,000,000 loan amount
• Second homes have a minimum of 10% down.
• Value based on as-completed appraised value
• 5% of total cost of construction required for reserves fif LTV exceeds 80%
• Primary residence (1 or 2 units)
• Secondary residence (single unit only)
• 12-18 month construction periods available
• One-time closing automatically converts to permanent financing at end of construction
• Rate float down at end of construction
• Interest-only payments during construction
• No prepayment penalty
• Fixed (30, 20, 15) or ARM (10/6, 7/6, 5/6, 3/6) available
• Equity in Lot goes towards the down payment
• No spec or investment builds
• No pre-starts

Construction loans are different animals. They have different rules and qualifying criteria. No feeling is worse than not qualifying for a loan after you are committed to a lot. It makes for a REALLY bad day and a big mess. All of 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 really easy. Drop your name and phone number in the form on this page, and we’ll let him know you’re looking for him.