Construction loan

Financing to build, with a single closing that converts to your permanent mortgage when the home is done.

Photo: Adobe Stock (free collection) · Adobe Stock standard license · asset 505006284 · licensed 2026-09-06 under the Chris Does Photos account

Who it's for

Buyers building on their own lot or with a builder.

How it works

Funds are disbursed in draws as construction progresses, with inspections at each stage.
One-time-close programs lock your permanent financing before you break ground.

What you'll need

Builder contract and plans
Lot ownership or purchase contract
Standard income and credit documents

Common questions

Do I make payments during construction?

Usually interest-only on the amount drawn.

By design this page shows no rates, APRs, payments, or down-payment percentages. Those figures are only published with the full disclosure block required by Regulation Z.