Build Your Home with a Construction Loan
Construction loans finance the land, labor, and materials needed to build a new home or complete a major renovation. These short-term loans often convert to permanent mortgages after completion, streamlining the process. At Team GWC of Citywide Home Mortgage, we offer flexible construction financing with competitive rates, one-time closing options, and guidance from application through final inspection. Perfect for buyers ready to design and build their dream property.
At-a-Glance:
Min down: 10–20%
Credit fit: Good to excellent
Occupancy: Primary, some second homes
Loan size: Varies by project
Pros: Combines land + build; one-time closing
Cons: Requires licensed builder, detailed plans
FAQs
A construction loan provides short-term financing to build, while a standard mortgage is long-term financing to buy or refinance an existing home.
Yes, most lenders require an approved builder with a proven track record to minimize project risk.
Yes, many programs allow you to roll land purchase and construction costs into one loan.
With full documentation, most construction loans are approved within 30–45 days.
Ready to Start Your Mortgage Journey?
Apply online, schedule a quick call, or request a guided application with one of our licensed teammates.
