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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. Usually, at the end of the loan’s term the unpaid balance is due in a lump sum and most borrowers will refinance at that time into a more traditional 15-year, 30-year or adjustable rate mortgage.

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 Mortgage Tools and Resources

Can I afford a New Construction Home?

Taking on a new construction mortgage is a big decision. You want to be sure you don't put yourself in a situation where you find yourself overextended and unable to meet that commitment. You can use our Monthly Payment Calculator to determine what your monthly payments would be in various situations and see what kind of home you can afford.

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New Construction Mortgage 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 conventional mortgage.