Construction Financing Process
A condensed overview. Lender programs differ — confirm details with your lender.
Are you the lender?
No. Lot Loan Lender is a referral and matching service. We connect you with preferred local loan officers and lenders who make any credit decisions. We do not lend or decide loan terms. Request a loan officer to get matched.
What is a construction loan?
A short-term loan used to fund building a home (or similar project). Funds are often released in draws as work progresses, subject to inspections and the lender’s requirements.
What is construction-to-permanent financing?
A structure that starts as construction financing and converts to a permanent mortgage after completion (when eligibility conditions are met). Availability and terms depend on the lender.
What do lenders typically look for?
Plans and budget, builder experience, your credit and income picture, equity/down payment, and contingency reserves. Exact criteria vary — ask the lender you work with.
Are rates the same as a regular mortgage?
Not necessarily. Construction and land products can price differently from standard purchase mortgages. We do not quote or guarantee rates; lenders provide their own offers.
How can Lot Loan Lender help?
We are a referral and matching service. Request a loan officer and we will help connect you with preferred local lenders experienced in construction financing.