Florida Construction Loans

Construction-to-permanent loans allow you to finance the construction of your new home. We specialize in construction of homes in Florida, Georgia, and South Carolina. We make it easy for you to complete your construction in a timely manner by disbursing funds each month based on your level of need.

Stage 1: The Application

You will begin working directly with the Loan Officer/Underwriter. We offer 12-month construction term loans. These are available to borrowers with excellent to less than perfect credit.  We provide flexible draw schedules and will assist you compiling your construction timeline.

We offer the following benefits:

  • Loan amounts from $100,000 to $2,500,000
  • Fast pre-qualification, usually within 3 to 5 business days
  • Loans are up to 90% of the appraised value of a single- family home
  • Land purchase may be included in the construction loan, up to 75% of the lot purchase price

Stage 2: The Building

In accordance with your construction progress, you will receive loan disbursements each month. We will periodically inspect the area and provide you with monthly statements. At the end of this stage, a certificate of occupancy will be issued to verify that your house is compliant with building codes and is in suitable living condition.

Stage 3: The Conversion

Any part of the loan that is left will rollover from the construction phase to the permanent phase. Here are some of the costs that might be due at conversion:

  • Initial escrow of pre-paid items (e.g. homeowner’s insurance and taxes)
  • Prepaid interest for permanent phase
  • Unpaid construction phase interest

Give us a call to start building your new home today!

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