Construction Loan
Build your dream home from the ground up
Construction loans finance the building of a new home, disbursing funds in stages as construction progresses. Once complete, the loan typically converts to a permanent mortgage (construction-to-perm).
Key Advantages
Why Choose a Construction?
Here's what sets this loan product apart and who it works best for.
One-Time Close Option
Construction-to-permanent loans close once, saving you from two separate closing processes and costs.
Draw Schedule Flexibility
Funds are released in draws aligned to construction milestones, so you only pay interest on disbursed amounts.
Custom Home Financing
Finance any custom-built home, from modest builds to high-end architectural projects.
Lock In Your Rate Early
Some programs allow rate locks at the time of construction loan closing, protecting you from rate increases.
Calculator
Loan Calculator
Estimate your monthly payment and total interest over the loan term.
Loan Term
Monthly Payment
$1,996/mo
Total Interest
$418,527
Total Paid
$718,527
Calculator results are estimates only and do not constitute a loan offer, pre-approval, or commitment to lend. Actual terms may vary.
Eligibility
Qualification Requirements
General guidelines for Construction Loan eligibility. Requirements vary by lender and scenario.
| Requirement | Guideline |
|---|---|
| Minimum Credit Score | 680+ |
| Minimum Down Payment | 20% |
| Plans & Permits | Approved construction plans and permits required |
| Licensed Contractor | General contractor approval required |
| Appraisal | Appraised "as-completed" value required |
These are general guidelines only. Specific program requirements may vary. Contact us for a personalized review of your scenario.
FAQ
Frequently Asked Questions
Common questions about Construction Loan loans.
Get Started Today
Ready to explore Construction Loan?
Answer a few quick questions and get a personalized strategy recommendation — including whether Construction is right for your situation.
West Capital Lending, Inc. is an Equal Housing Lender. We do not discriminate on the basis of race, color, religion, national origin, sex, handicap, or familial status.
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