Construction Loans
Construction financing may fund eligible building projects through a lender-defined disbursement process. Project, property, budget, plans, builder, timing, costs, repayment, and any permanent-financing arrangement depend on the program and lender.
Construction Loans in Florida — Build Financing Guide
Construction financing provides funds in stages as an eligible project is built. Residential and commercial construction programs vary widely, so the borrower, land, plans, builder, budget, appraisal, contingency, and exit to permanent financing all matter.
Requirements at a Glance
Key Benefits
- ✓Funds are released in draws as construction progresses
- ✓Some programs combine construction and permanent financing in one closing
- ✓Can finance eligible custom-home or commercial projects
- ✓Borrowers generally pay interest based on funds disbursed rather than the entire commitment during construction
- ✓A structured draw process helps align funding with completed work
How to Apply — Step by Step
Finalize plans, builder, and budget
The project needs enough detail for lender and appraisal review.
Review construction-loan structure
Compare one-time-close and two-close structures, term, equity, contingency, and permanent-loan plan.
Complete as-completed appraisal
The appraiser evaluates the proposed finished property using plans and specifications.
Close and begin draws
Draws are funded according to inspections and the lender’s approved schedule.
Finish construction and transition
After completion, the loan is paid off or converts/refinances into permanent financing according to the selected structure.
Who Qualifies?
Construction eligibility depends on borrower qualifications, land ownership/equity, builder approval, plans, budget, contingency, permits, project feasibility, as-completed value, and the permanent-financing or repayment strategy.
Build a realistic contingency into the project budget and understand exactly how change orders affect borrower cash requirements and the draw schedule.
Discuss Your Construction Financing Plan
Share your scenario and ask which program requirements and next steps may apply.
Who This Is For
Property owners, builders, and developers exploring financing for a proposed construction project.
Ask About Mortgage Options
Share your contact information and the loan type you want to discuss.
Construction Loans Information by Location
Ask About Construction Options
A loan officer can review your inquiry and explain options that may apply.
Your inquiry will be sent to Beacon Mortgage. Do not include account numbers or financial documents in this form.
Frequently Asked Questions
- What are Construction Loans?
- Construction financing may fund eligible building projects through a lender-defined disbursement process. Project, property, budget, plans, builder, timing, costs, repayment, and any permanent-financing arrangement depend on the program and lender.
- Who qualifies for Construction Loans in Florida?
- Property owners, builders, and developers exploring financing for a proposed construction project.
- Can I ask Beacon Mortgage about Construction Loans?
- The website has information about Construction Loans. Contact Beacon Mortgage to ask whether this program is currently available for your property and transaction.