Investment Loans
Construction Loans
Fund ground-up construction or major renovation projects.
Overview
What Is a Construction Loan?
Construction loans provide short-term financing for building new structures or substantially renovating existing ones. Funds are disbursed in draws as construction progresses, and the loan typically converts to permanent financing upon completion.
Key Benefits
Why Choose This Program?
- ✓ Funds disbursed as construction progresses
- ✓ Interest-only during construction
- ✓ Converts to permanent loan on completion
- ✓ Single-close options available
- ✓ Flexible draw schedules
Requirements
What You’ll Need
- ✓ Approved building plans and permits
- ✓ Licensed general contractor
- ✓ Detailed construction budget
- ✓ Property appraisal (as-completed value)
Who Should Choose This Loan?
Is the Construction Right for You?
- ✓ Borrowers building a custom home
- ✓ Developers constructing residential properties
- ✓ Investors doing ground-up construction projects
- ✓ Homeowners doing major renovations
Frequently Asked Questions
Construction FAQ
How do construction loans work?
Funds are disbursed in draws as construction milestones are completed. You typically pay interest only during construction, then convert to a permanent mortgage.
Do I need to own the land first?
Not necessarily. Some construction loans can finance both the land purchase and construction costs in a single loan.
What happens after construction is complete?
Most construction loans convert to a permanent mortgage (construction-to-perm), so you don’t need to apply for a separate loan after building.
Not sure if the Construction is right for you? Compare all loan programs →
Ready for a Construction Loan?
Get a personalized rate quote and see how much you qualify for.