Who’s a Good Fit for Construction
Buyers building new on a lot they own or are buying, working with a builder the lender can accept, and ready for a draw schedule, inspections, and contingency. Spec builders and complex commercial builds are a different conversation — see the specialty notes on more programs.
If the house already exists and you need repairs folded into one mortgage, that is renovation / 203(k) / HomeStyle territory — renovation — not this page.
How it works
We underwrite you, the lot, the plans/specs, and the builder.
Closing funds the lot (if needed) and sets up the construction facility.
The builder pulls draws as stages complete; an inspector usually verifies.
On a one-time-close, you convert to the permanent mortgage without a second full refinance when the certificate of occupancy is ready — when that product fits.
Not every build is one-time-close. Some are construction-only with a separate end loan. I will not invent builder overlays or print a rate on this page.
Builder and plans
Lenders care who is building. Licensed builders with track records clear easier than owner-builder in many programs. Plans, specs, budget, and contingency have to hang together. Change orders mid-build can blow the numbers — plan for that conversation up front.
Common questions
- Can I use VA or FHA for construction?
- Sometimes, on the right structure. VA and FHA have construction and rehab paths with their own rules. We check your eligibility and the builder. See also VA and FHA.
- Lot only?
- Land / lot financing is specialty — short note on more programs. Often different from a full construction-to-perm.
- Timeline?
- Builds run on the contractor’s schedule plus inspections. I will not print a “close in X days” promise for ground-up.
What I need from you
Apply first. Then we talk builder, lot, plans/budget, and whether one-time-close is even on the table. You don’t have to research which construction product you are. Talk to me first if you want a second set of eyes before you sign a builder contract.
Purchase, refinance, and most programs: Apply opens my Bevri application. Prefer to talk first? Use Talk to Michael. I’ll walk you through the program and the guidelines.