New Construction Loans
Building or buying new? The financing has more moving parts — David has spent 20 years keeping them in order.
Overview
New construction financing covers homes that don't exist yet — whether you're buying from a builder or building on your own lot. The timing is different from a standard purchase: rate locks have to survive a build schedule, draws have to match construction milestones, and the appraisal happens on a house that's still on paper. David has financed new builds for two decades and knows how to structure the loan so a delayed drywall delivery doesn't blow up your rate lock.
Who It's For
How It Works
Structure the Deal
Builder purchase or own-lot build? One closing or two? We map the financing to the actual construction timeline before you sign anything.
Approval & Rate Strategy
Full approval up front, plus a rate-lock plan that covers the build window — including what happens if the schedule slips.
Build Period
We track milestones with the builder and keep your file current, so a six-month build doesn't mean re-documenting your life at the end.
Final Appraisal & Close
The finished home gets appraised, we confirm final numbers, and you close on schedule.
Requirements
These are general guidelines, not a quote or commitment to lend. Actual terms depend on credit approval, income, and underwriting — not all applicants will qualify, and programs and requirements are subject to change without notice. Through Movement Mortgage we have access to additional programs with different requirements. Contact David & Bri for options specific to your situation.
Pros & Cons
Advantages
Considerations
FAQ
5 questions
How is a construction loan different from a regular mortgage?
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A regular mortgage funds a finished house in one transaction. Construction financing has to survive a build: extended rate locks, milestone-based timing, and an appraisal based on plans. Structured well, it feels almost like a normal purchase. Structured badly, a two-week delay can cost you your rate. That's the part we manage.
Should I use the builder's preferred lender?
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Compare. Builder lenders sometimes offer real incentives, but their pricing isn't automatically better — and you're allowed to shop. Bring us the builder's offer and we'll tell you honestly whether to take it. Sometimes the answer is yes.
What happens to my rate lock if construction is delayed?
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This is the big risk in new construction, and it's manageable: extended locks, lock extensions, and float-down options all exist. We build the rate strategy around the builder's realistic timeline — not the optimistic one in the brochure.
Can I build on my own land?
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Yes. Own-lot construction uses a construction-to-permanent loan: one closing that covers the build and converts to a standard mortgage at completion. It requires more documentation (plans, specs, builder contract) and we'll walk you through the list.
Do new construction homes need an inspection?
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Get one anyway. New doesn't mean flawless, and a pre-drywall inspection plus a final walk-through inspection are cheap insurance. Your financing doesn't require it, but we'd tell you to do it regardless — it's your money.
Ready to explore construction?
Schedule a complimentary consultation. We'll review your situation and tell you honestly whether this is the right move.