Construction Loans in North Carolina and South Carolina
Build with confidence using a loan strategy designed around your land, builder, timeline, and long-term goals. Whether you’re building from the ground up or planning a custom home, the right loan structure matters just as much as the house itself.
Start My Pre-ApprovalWhy Construction Loans Require the Right Strategy
Construction financing is not just about getting approved — it’s about structuring the deal correctly from day one. Land equity, builder approval, draw schedules, and loan type all play a role in how smoothly your build goes. Unlike a standard conventional mortgage or FHA loan, construction loans involve multiple phases and require a lender who understands the build process from start to finish.
One-Time Close
Finance your land, construction, and permanent mortgage in a single loan — one closing, one set of fees, and less risk of rate changes.
Two-Time Close
Separate your construction financing from your permanent loan for more flexibility in builder selection, timelines, and rate locks.
Land Equity as Down Payment
Already own your lot? Use the equity in your land toward your down payment — reducing out-of-pocket costs significantly. If you need additional help, explore down payment assistance options in Summerville.
VA Construction Loans
Eligible veterans can build a home with $0 down and no PMI using VA construction financing — one of the most powerful build options available.
Interest-Only During Build
Pay only interest on drawn funds during the construction phase, keeping your monthly payments low until the home is complete. Use our mortgage payment calculator to estimate your costs.
Builder Approval & Structuring
We help with builder vetting, project budgeting, and draw schedule setup so the financial side of your build stays on track.
How It Works — From Land to Keys
Construction loans follow a different path than traditional mortgages. Here’s how the process works when you build with the right strategy in place.
01 — Plan & Structure
We review your land, builder, and financials to design the right loan structure from day one. This includes choosing between one-time close and two-time close options.
02 — Approval & Setup
Builder approval, plans, and budget are reviewed to ensure everything is aligned before construction begins. We coordinate with your builder to finalize the draw schedule.
03 — Build & Close
Funds are released in draws as your home is built, then your loan converts to permanent financing — no second closing required with a one-time close option.
Who Construction Loans Are For
Construction loans are built for borrowers who want to build a home from the ground up or make major structural changes. Whether you already own land, are purchasing a lot, or need to finance everything in one package, the right structure makes all the difference.
Construction Loan Areas We Serve
We help borrowers build in communities across North Carolina and South Carolina, including:
Construction Loan FAQ
What is the minimum down payment for a construction loan?
Down payments typically range from 5% to 20% depending on the loan program. Veterans with full VA entitlement can build with zero down using a VA construction loan. FHA construction options require as little as 3.5% down.
What is the difference between one-time close and two-time close?
A one-time close construction loan combines the build phase and permanent mortgage into a single closing, saving on fees and rate risk. A two-time close involves separate closings for construction and permanent financing, offering more flexibility but higher total costs.
Can I use land I already own as a down payment?
Yes. If you own your lot, the equity in the land can count toward your down payment. This is one of the most common strategies for reducing out-of-pocket costs on a construction loan.
How long does a construction loan take to close?
Construction loan approvals typically take 30 to 60 days depending on builder documentation, plans, and appraisal. The build phase itself usually runs 6 to 12 months before converting to permanent financing.
Do you offer construction loans for veterans?
Yes. VA construction loans allow eligible veterans to build a home with $0 down and no PMI. This is one of the most valuable build options available for qualifying service members.
What areas do you serve for construction loans?
We serve borrowers building in North Carolina and South Carolina, including Summerville, Charleston, Goose Creek, Raleigh, Fayetteville, and surrounding communities. View all available loan options for your area.
Ready to Build? Start Your Construction Loan the Right Way
Building a home is one of the biggest financial decisions you’ll ever make. The right loan structure protects your timeline, your budget, and your long-term investment.
Start My Pre-ApprovalMatt Doby | NMLS #2115225 | Licensed in NC & SC
Not sure if a construction loan is right for you? Compare your options on our Loan Options page, or explore FHA Loans, VA Loans, Conventional Loans, or Refinance Options for alternative paths to homeownership.