Construction Financing

Building a home brings a whole new set of decisions, excitement, and frustration. Preferred Rate has certified Builder Pros that have specific construction financing training and expertise that provide peace of mind. Whether it’s their first new build or not, we can get the financing in place to make your client’s dream home a reality.

Get pre-approved in minutes

As seen in:

Top military lender

NMP

Top mortgage lender

Scotsman guide

5-Star Lender

MPA

TOP LENDER

CALHFA

TOP EMPLOYER

DIVERSITY JOBS

TOP 100 MORTGAGE COMPANIES

MORTGAGE EXECUTIVE

5-STAR LENDER

Mortgage Professional America

TOP 250 LATINO MORTGAGE ORIGINATORS

NAHREP

MOST LOVED MORTGAGE EMPLOYERS

NMP

TOP MORTGAGE LENDER

Scotsman Guide

TOP MILITARY LENDER

NMP

TOP 15 VA LENDER

Scotsman Guide

Product highlights

One-time close construction-to-permanent financing
Up to 95% LTV financing on Conventional
Up to 100% LTV financing on VA
Up to 96.5% LTV financing on FHA
660 minimum credit score
50% maximum debt-to-income ratio
Single-family properties and manufactured homes
Up to 12 months to build
Conventional, FHA, and VA options available
Permanent financing based on final appraised value
30-, 20-, 15-, and 10-year fixed-rate options available

Borrower advantages

Ability to build dream home on a piece of property with one loan
Streamlined approvals and draws
Dedicated construction team for quick processing
SecureLockTM available with up to 365-day rate lock
Don’t need to sell home to qualify
Owned land can be used for down payment
Manufactured homes allowed

Realtor advantages

Expands accessibility for buyers wishing to purchase property and build their dream home
Allows for agents to sell properties in builder projects and offer a one-time close option
Preferred Rate’s Loan Officers complete a three part education course, to ensure clients are in good hands