How this mortgage path is commonly used
Construction financing is disbursed as work progresses and typically involves plans, budgets, builder review, inspections, and draw administration.
Potential features
- Single-close and two-close structures may be available
- Land and eligible construction costs may be included
- Interest may be charged on drawn funds during construction
- Conventional, FHA, VA, and specialty paths may be considered
Important considerations
- Builder and project approval are central
- Contingency reserves may be required
- Appraisal is generally based on completed plans and specifications
- Timelines, draws, and cost changes need careful management
Common starting points
Borrowers building a primary homeLandowners planning a new residenceEligible veterans exploring VA construction
A practical way to evaluate your options
01
Define the goal
Purchase, refinance, build, invest, or use equity.
02
Review the full payment
Include taxes, insurance, mortgage insurance, and association dues.
03
Prepare the profile
Income, assets, credit, property, and occupancy all shape available paths.
04
Complete underwriting
Only a complete application and underwriting can establish approval and terms.
Educational information, not a commitment to lend
Program availability, guidelines, pricing, and documentation requirements can change. Contact duPont Lending for information specific to your scenario.