New Construction Mortgage
What Is a New Construction Mortgage?
A New Construction Mortgage is a short-term home loan (typically about a 4-6 month term) to pay for the costs of actually building a new home from the foundation up and purchase of the land. It is a specilaty of ours at LMC. Let us show why we are experts in construction lending.
To help you answer any of the questions you may have about a New Construction Mortgage, we’ve compiled a list of resources to begin the process.
New Construction Tools and Resources
Can I Really Afford an New Construction Home?
Taking on a new construction mortgage is a big decision but our construction lending experts are here to help. We offer financing with as little as a 5% down payment, quick turnaround for settlement and flexible draw schedules. LMC can finance the purchase of the land and the cost of building in one transaction. We offer both 2-step construction and a one-time close construction. It’s the best of both worlds.
New Construction Resources
Applying for a new construction mortgage is a different process than a typical mortgage. We have a list of resources to help you navigate those differences.
New Construction Resources ›
How to Get Started?
Let us know a little more about you and what you’re looking for in a residential mortgage loan by completing the form on this page.
In a Hurry? Get a Customized Rate Quote
We would like to get to know you and what you’re looking for in a home loan. You can APPLY ONLINE and an LMC Mortgage Expert will contact you within one business day.
Mortgages Made Easy!
Find out how: