Loan options
Construction Loans (New Home Build)
Not every loan fits every situation. Here’s how I match you to the one that fits yours.
What is it?
A construction loan covers the cost of building a new home. Instead of paying out all at once, funds are released in stages as each phase of the build is completed and inspected. Depending on the program, the loan can convert to a regular mortgage when construction ends, so you may not need a second loan.
Quick facts
Who it fits
- Buyers building a custom home on their own lot
- Buyers purchasing new construction from a builder
- Buyers who want to buy land and build
- Builders who want a lender their buyers can count on
Good to know
Construction loans involve more steps than a standard mortgage. Lenders typically review your builder, your plans, and your budget along with your income and credit, and the home is appraised based on the finished plans. During the build, payments are often limited to interest on the funds released so far. Timelines, requirements, and options vary by program, so I will walk you through what applies before you commit.
The process
- Step 1
We talk through your plans, lot, and builder
- Step 2
I match you with a construction loan option that fits
- Step 3
Your plans, budget, and builder are reviewed
- Step 4
Funds are released as each stage is completed
- Step 5
You move into your finished home
Common questions
What is a one-time close construction loan?
It combines the construction financing and your permanent mortgage into a single loan with one closing, so you do not have to qualify and close again when the home is finished. Availability depends on the program.
Can I buy the land with the loan?
In many cases, yes. Some programs can finance the land and the build together, depending on whether you already own the lot.
Do I need to use a specific builder?
Lenders usually need to review and approve the builder. I can help you check early so there are no surprises.
Is buying new construction different from buying a resale home?
You still get a mortgage, but the timeline, contract, and appraisal work differently. I will walk you through what to expect.
Does Florida insurance affect my build?
It can. Wind, flood, and elevation requirements vary by location, and insurance affects your budget, so it is worth checking early.
Tampa Bay and Florida are full of new communities and custom lots, and I help buyers and builders across Pinellas County, Tampa and beyond. See where I work.
For builders
Building in Tampa Bay? I work with builders who want a lender their buyers can count on, with clear communication, steady updates, and a straightforward process from contract to closing. Reach out to talk about how we can work together.
Ready to find your match?
Find Your MatchThis is general information, not a commitment to lend or a rate quote. Programs, limits, and eligibility vary by borrower and property and can change. Equal Housing Opportunity. Jermin Munoz, Mortgage Loan Originator, NMLS# 2689451.