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Blueprint to front door
Building the home is one project. Financing it is another. Let’s make sure the plans work together.
Start with the project
Open the path that sounds most like your plan.
You are buying from a builder in a planned community. If the home will be complete before closing, eligible conventional, FHA or VA purchase financing may be considered. Builder timelines, deposits, incentives and completion requirements still matter.
Compare the builder’s offer →A construction-to-permanent loan may combine the building phase with long-term financing, or the project may use separate construction and permanent loans. Builder approval, plans, budget, appraisal and draw administration are part of the review.
See construction-to-permanent paths →Existing lot ownership, current liens, land value, site work and the construction budget can affect how the transaction is structured. The complete title and financing picture must be reviewed.
Review my land and build plan →A renovation loan is different from financing a new home from the ground up. Eligible improvements may be included through a structured repair budget and draw process.
Explore renovation loans →Construction financing paths
Availability and structure depend on the lender, loan program, borrower, builder and project.
One set of closing documents may cover both phases. Construction funds are managed during the build, and the loan converts to permanent financing after eligible completion requirements are met.
The initial loan funds the build. A separate closing provides the permanent mortgage after completion. Updated qualification, costs and market conditions may affect the second transaction.
Eligible conventional, FHA or VA financing may be considered for a completed production-builder home. This is not the same as financing construction draws yourself.
The project timeline
Review ownership, site, builder and project eligibility.
Gather specifications, budget, allowances and construction agreement.
Review the borrower and the proposed home under program rules.
Sign the approved construction and financing documents.
Funds may be released as eligible work is completed and reviewed.
Confirm the home, required documents and final work meet the program.
Convert or close into long-term financing under the selected structure.
What belongs in the plans?
These pieces help the lender understand what is being built, who is building it and how the project will be completed.
Scope, total cost, timing and responsibilities.
The details used to describe the proposed home.
Licensing, experience, insurance and other lender requirements may apply.
Site work, materials, selections and items not included in base pricing.
An opinion of value based on the plans, specifications and required appraisal analysis.
How eligible construction funds may be released as work progresses.
Protect the plan
Upgrades and design changes can increase the contract price and cash needs.
Know who covers costs above the approved construction budget.
Permits, materials, weather and labor can affect completion and financing timelines.
Options, extensions and costs vary. Review the complete structure rather than assuming the builder’s timeline will hold.
Look past one headline
For Realtor and builder partners
I help partners understand the buyer’s financing path, important deadlines and the questions that can affect the transaction.
See Realtor ResourcesPotential advantages
Important tradeoffs
Construction questions
Not always. Review the contract and compare the full options.
Early, ideally before signing or committing to major upgrades.
Options depend on the lender, program and expected completion date.
It is an appraisal based on the proposed home, plans, specifications and applicable appraisal requirements. Completion must later be confirmed as required.
Change orders or overruns may affect available funds, the loan structure or cash needed. Discuss changes before agreeing to them.
Not necessarily. Compare the incentive with the complete loan, closing costs, lock terms and long-term plan.
First Coast Mortgage Funding LLC is not affiliated with the Department of Veterans Affairs (VA), the U.S. Department of Housing and Urban Development (HUD), or the Federal Housing Administration (FHA). This is not a government offer, nor has it been approved or endorsed by any government agency. Program eligibility and underwriting requirements vary by applicant and by lender. Loan approval is subject to applicable agency guidelines, investor requirements, and First Coast Mortgage Funding LLC’s credit policies.
Before you sign the builder contract
Bring the quote, plans or questions you have. We’ll identify what deserves attention next.