Unlike traditional mortgages, construction loans release funds in scheduled “draws” as specific building milestones are completed. During the construction phase, you may make interest-only payments based on the amount disbursed. Once the home is finished, the loan may convert into a permanent mortgage (construction-to-permanent loan) or be refinanced into a long-term loan.
Mike Boyle can guide you through the planning, approval, and building phases with clear expectations and structured financing — ensuring your project stays on track from foundation to final walkthrough
Construction loans provide the flexibility and financial structure needed to turn your vision into reality. Instead of settling for an existing home, you gain the freedom to design and build a property tailored to your lifestyle and long-term goals. It’s a strategic solution for borrowers who want customization, oversight, and a seamless transition from construction to long-term homeownership.
Design a home that fits your lifestyle, preferences, and long-term needs.
Some programs combine construction and permanent financing into a single loan.
Payments are typically based only on funds already disbursed.
Available for primary residences and, in some cases, second homes.
Funds are released in stages to ensure project oversight and budget control.
Seamless transition from construction phase to permanent mortgage.
Understanding a mortgage doesn’t have to feel overwhelming. In this section, we break down common questions about loan programs, qualification requirements, credit guidelines, down payments, rates, and closing timelines in simple, straightforward language.
Construction phases typically last 6–12 months, depending on the project timeline.
Not necessarily. The loan may include land purchase in the financing structure.
Yes. Construction loans generally require higher down payments compared to traditional purchase loans.
Builders must typically be licensed and approved by the lender.
The loan either converts to a permanent mortgage or is refinanced into one.
Construction loans may carry slightly higher rates due to project risk and complexity.
