Construction Loans
Finance your custom-built dream home
What is a Construction Loans?
A construction loan is a short-term loan that funds the building of a new home. Unlike a traditional mortgage, funds are disbursed in draws (stages) as construction milestones are completed. Once construction is complete, the loan either converts to a permanent mortgage (construction-to-permanent) or is paid off with a new permanent mortgage (construction-only). KLE Mortgage specializes in construction-to-permanent financing, which means a single closing, reducing costs and complexity.
Key Features
- Construction-to-permanent in one closing
- Interest-only payments during build phase
- Funds disbursed in draws at milestones
- Licensed, insured builder required
- Available for primary and vacation homes
- Lock in permanent rate at closing
Requirements
- Licensed and insured general contractor
- Detailed construction plans and budget
- Minimum 20% down payment
- Higher credit scores required (680+)
- Adequate cash reserves
- Land must be owned or purchased simultaneously
At a Glance
Best For
- Custom home builders
- Buyers who can't find existing inventory
- Those building a vacation or second home
- Buyers wanting control over home design and materials
Ready to Apply?
Get pre-approved in as little as 24 hours. No obligation.
Start Application Call +1 (305) 705-2030Other Programs
Ready to Find Your
Perfect Loan?
Whether you're buying your first home, upgrading, or refinancing, our team is ready to guide you. Getting pre-approved takes less than 10 minutes.
No obligation. No credit pull required for pre-qualification.