Construction Loans
Construction loans provide financing for building, renovating, or expanding properties. Designed specifically for real estate projects, construction loans offer flexible, short-term funding to cover every stage of construction, from land acquisition to project completion. With structured draw schedules, funds are released in stages based on project milestones, ensuring you have the capital to keep building on time and within budget. Whether you’re developing residential, commercial, or mixed-use properties, our team provides competitive rates, quick approvals, and personalized service to support your vision from start to finish.
Flexible Construction Financing for Your Development Needs
Designed for property development, construction loans provide tailored funding for new builds, renovations, and expansions across residential, commercial, and mixed-use projects.
Construction loans offer short-term financing with structured draw schedules, releasing funds in stages as project milestones are met, keeping cash flow aligned with building needs.
These loans can cover initial land purchase as well as development costs, making it easier to begin construction with minimal upfront capital.
Our construction loans come with competitive rates and terms suited to the specific requirements of each project, helping you balance cost-effectiveness with flexibility.
Application and approval processes ensure you get funds when you need them, so you can break ground without delays.
Our team works closely with you to create financing solutions that align with your project scope, timelines, and financial goals, ensuring support throughout the build.
What our clients say
FAQ
Most frequent questions and answers
A construction loan is a short-term loan designed to cover the costs of building or renovating a property. It provides funds in stages as the project progresses, allowing developers to finance each phase of construction.
Unlike a traditional mortgage, which provides a lump sum for a completed property, construction loans disburse funds incrementally based on project milestones. This structure ensures that funds are available only as needed throughout the build.
Eligibility varies, but construction loans are typically available to developers, builders, and property owners with a well-defined project plan, clear budget, and construction timeline. Good credit and relevant experience are also beneficial.
A draw schedule releases funds in stages, with each “draw” tied to project completion milestones, such as laying the foundation, framing, or finishing the roof. Inspections verify progress before each draw, helping ensure funds are used efficiently.
Construction loans can cover a range of expenses, including land acquisition, material costs, labor, permits, and other expenses associated with building or renovating a property.
Construction loans are generally short-term, with terms lasting from 6 to 18 months, depending on the project. Once the build is complete, the loan may be refinanced or converted to a long-term mortgage.
Interest rates on construction loans are typically higher than traditional mortgages due to the increased risk. Rates vary based on market conditions, loan term, borrower credit, and project details.
Yes, collateral is usually required. The property under construction and sometimes additional assets are used to secure the loan, giving lenders assurance in case of default.
Yes, construction loans can also be used for major renovations or additions to existing properties, provided the project meets the lender’s criteria for financing.
Yes, an exit strategy, such as refinancing into a mortgage or selling the property, is typically required to repay the loan at the end of the term.
Approval and funding times vary, but construction loans are often approved and funded within a few weeks, depending on the project scope and lender requirements.