Loan Program
Construction Loans in Florida
Construction-to-permanent loans finance your land and build costs in a single closing — then convert to a permanent mortgage when your home is complete. Call 813-906-5886.
What Is Construction Loans?
Construction-to-permanent loans finance your land and build costs in a single closing — then convert to a permanent mortgage when your home is complete.
Who It’s Best For
- Buyers building a custom home
- Those purchasing land plus construction
- Buyers who want one closing, not two
- Homeowners doing major renovations
Key Benefits
- One loan and one closing for land + build
- Interest-only payments during construction
- Converts to a permanent mortgage automatically
- Lock your permanent rate options
- Draw schedule aligned with build milestones
Requirements & Eligibility
Construction Loans Eligibility
| Typical Credit Score | 680+ |
|---|---|
| Minimum Down Payment | 10%–20% |
| Builder | Licensed, approved builder required |
| Documentation | Plans, specs, and cost breakdown |
| Property Type | Primary, second home |
Honest Comparison
Pros & Cons of Construction Loans
Pros
- Single close saves time and fees
- Interest-only during the build
- Seamless conversion to permanent loan
- Funds released as work is completed
Considerations
- Requires detailed plans and budgets
- Approved builder needed
- More moving parts than a standard purchase
The Process
How to Get a Construction Loans in Florida
- 01
Plan & Budget
We review your builder, plans, and cost breakdown.
- 02
Get Approved
We underwrite you and the project together.
- 03
Close Once
Combine land and construction in a single closing.
- 04
Build with Draws
Funds release on schedule as milestones are met.
- 05
Convert & Move In
Your loan converts to a permanent mortgage at completion.
Construction Loans in Florida: Build Your Dream Home
A construction loan finances the building of a new home rather than the purchase of an existing one. The most popular option in Florida is the construction-to-permanent loan, which finances your land and build costs and then converts into a permanent mortgage when the home is complete — all with a single closing.
Building a custom home is exciting, but the financing can feel intimidating. At My Mortgage Loan, we make it clear and manageable, guiding you and your builder through approval, the draw schedule, and the conversion to permanent financing so you can focus on bringing your vision to life.
How Construction-to-Permanent Loans Work
With a construction-to-permanent loan, you close once to finance both the lot and the construction. During the building phase you make interest-only payments on the funds that have actually been disbursed, which keeps your costs manageable while the home is being built. When construction is complete, the loan automatically converts to a standard permanent mortgage.
This single-close structure saves you time and money compared with taking out a separate construction loan and then refinancing into a mortgage, because you pay only one set of closing costs. It also locks in your financing up front, giving you certainty before the first nail is driven.
The Draw Schedule Explained
Construction loans release funds in stages called draws, which are tied to milestones in the building process — such as the foundation, framing, and finishing work. Before each draw is released, the work is typically inspected to confirm it is complete, which protects both you and the lender.
This structure ensures money is disbursed responsibly as the home actually takes shape, rather than all at once. We help coordinate the draw schedule with your builder so the project stays funded and on track from groundbreaking to final walkthrough.
Construction Loan Requirements
Construction loans involve more documentation than a standard purchase because you are financing a project, not just a property. You will generally need a credit score around 680 or higher, a down payment of 10% to 20% of the total project cost, and a licensed, approved builder with detailed plans, specifications, and a cost breakdown.
We review your builder and project up front and underwrite you and the build together. Our experience with Florida construction lending helps you assemble the right documentation the first time, which keeps your approval on schedule and your project moving.
Who Should Consider a Construction Loan?
Construction loans are ideal for Florida buyers who want a truly custom home built to their specifications, those purchasing a lot and building on it, and homeowners planning a major renovation. If you cannot find the right existing home, building can let you get exactly what you want in the location you love.
They are also a smart choice for buyers who value the efficiency of a single closing. Rather than financing the land, paying for construction separately, and then refinancing, a construction-to-permanent loan wraps everything into one streamlined transaction.
The Construction Loan Process
We start by reviewing your builder, plans, and budget to confirm the project is ready for financing. After we underwrite you and the project, you close once to combine the land and construction. During the build, funds are released on schedule as milestones are met and inspected.
When construction is complete, your loan converts to a permanent mortgage and you begin standard principal-and-interest payments. Throughout the process, we stay in close communication with you and your builder so there are no surprises — just steady progress toward move-in day.
Why Build With My Mortgage Loan
Construction lending has more moving parts than a typical mortgage, so experience matters. As a local Florida broker, we understand builder approvals, draw schedules, and the conversion to permanent financing, and we shop multiple lenders to find the best construction loan terms for your project.
If you are ready to build your dream home in Florida, call 813-906-5886 or request a consultation online. We will help you structure financing that makes the entire journey — from blueprint to keys — as smooth and predictable as possible.
Frequently Asked Questions
Construction Loans FAQs
Common questions about construction loans in Florida.
What Our Clients Say
100+ Five-Star Reviews from Florida Homeowners
Tampa, FL · Dec 2024
“Best mortgage experience I have ever had. They got me pre-approved for my VA loan in less than 24 hours and walked me through every single step. Closed early and stress-free.”
Orlando, FL · Nov 2024
“As first-time buyers we were nervous, but the team explained our FHA options in plain English. We put just 3.5% down and are now in our dream home. Highly recommend!”
St. Petersburg, FL · Nov 2024
“I am self-employed and two banks turned me down. They found a bank-statement program that fit perfectly. Professional, responsive, and genuinely on my side.”
Miami, FL · Oct 2024
“Smooth jumbo loan process on a waterfront condo. The rate they secured beat my own bank by a wide margin. Communication was excellent the entire time.”
Clearwater, FL · Oct 2024
“They shopped multiple lenders and saved me real money on my conventional refinance. No pressure, just honest advice. Cannot say enough good things.”
Jacksonville, FL · Sep 2024
“USDA loan with zero down — I did not even know I qualified until I called. The whole team was patient, knowledgeable, and quick to respond to every question.”
Sarasota, FL · Sep 2024
“We built a custom home and the construction-to-permanent loan made it painless. One closing, clear draw schedule, and zero surprises. True professionals.”
Fort Lauderdale, FL · Aug 2024
“Used a HELOC to renovate our kitchen and consolidate debt. The rate and terms were great and the process was fast. They truly care about their clients.”
Tampa, FL · Dec 2024
“Best mortgage experience I have ever had. They got me pre-approved for my VA loan in less than 24 hours and walked me through every single step. Closed early and stress-free.”
Orlando, FL · Nov 2024
“As first-time buyers we were nervous, but the team explained our FHA options in plain English. We put just 3.5% down and are now in our dream home. Highly recommend!”
St. Petersburg, FL · Nov 2024
“I am self-employed and two banks turned me down. They found a bank-statement program that fit perfectly. Professional, responsive, and genuinely on my side.”
Miami, FL · Oct 2024
“Smooth jumbo loan process on a waterfront condo. The rate they secured beat my own bank by a wide margin. Communication was excellent the entire time.”
Clearwater, FL · Oct 2024
“They shopped multiple lenders and saved me real money on my conventional refinance. No pressure, just honest advice. Cannot say enough good things.”
Jacksonville, FL · Sep 2024
“USDA loan with zero down — I did not even know I qualified until I called. The whole team was patient, knowledgeable, and quick to respond to every question.”
Sarasota, FL · Sep 2024
“We built a custom home and the construction-to-permanent loan made it painless. One closing, clear draw schedule, and zero surprises. True professionals.”
Fort Lauderdale, FL · Aug 2024
“Used a HELOC to renovate our kitchen and consolidate debt. The rate and terms were great and the process was fast. They truly care about their clients.”
Ready to Apply for Construction Loans in Florida?
Get a fast, no-obligation pre-qualification from a local expert who knows the Florida market.