A New Construction Home Loan is specifically designed for financing the building of a new home, unlike a standard mortgage which is used for purchasing existing properties. These loans often have unique features like staged funding and tailored New Construction Mortgage Rates to suit the construction timeline.

Qualifying for a New Construction Mortgage typically involves a detailed review of your financial situation, including income, credit score, and the project's budget. Additionally, detailed plans and contracts for the construction project are usually required to assess the loan amount and terms.

Yes, many lenders offer the option to lock in New Construction Mortgage Rates for a certain period. This can provide financial predictability during the construction phase. Our team can help you understand and choose the best rate lock options for your situation.

Funds from a New Construction Home Loan are typically disbursed in stages or 'draws' as the construction progresses. This staged funding aligns with key milestones in the building process, ensuring that funds are available when needed for each phase of construction.