Construction Loans

What is Construction?

Construction loans provide the funding you need during the building process and the permanent mortgage — often wrapped into one loan. Whether you're building from the ground up, doing a major renovation, or buying a fixer-upper, Q Home Loans has loan officers specifically certified in construction financing who guide you through every step. We offer both one-time close and two-time close options depending on your build timeline and budget. Contact our construction team to discuss your project.

Why Choose Construction Loans?

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One Closing, One Set of Costs

One-time close construction loans save you thousands in duplicate closing costs compared to two-loan approaches.

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Rate Lock Protection

Lock your permanent mortgage rate at the start of construction — protecting you from rate increases during the build.

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Build Exactly What You Want

Custom construction means you get the layout, finishes, and features you want — not what's available in existing inventory.

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Interest-Only During Construction

Pay only interest on drawn funds during construction, keeping your costs lower while the home is being built.

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Automatic Conversion

One-time close loans automatically convert to your permanent mortgage when construction is complete — no second application.

Expert Guidance

Q Home Loans has experience with construction lending and can guide you through the draw process and builder requirements.

Construction Loans Requirements

Basic Qualifications

  • Minimum 680–700 credit score
  • Down payment of 10%–20% depending on program
  • Licensed and insured general contractor required
  • Detailed construction plans and cost breakdown
  • Construction timeline and draw schedule
  • Builder approval by lender required

Required Documents

  • Last 2 years W-2s and tax returns
  • Last 30 days pay stubs
  • Last 2 months bank statements
  • Construction plans and specifications
  • Signed construction contract with licensed builder
  • Builder's license, insurance, and references

Who Should Consider Construction Loans?

Custom Home Builders

Building your dream home from scratch? Construction loans provide the financing to make it happen with a single closing.

Buyers in Low-Inventory Markets

When existing homes don't meet your needs, building new is the answer — construction financing makes it accessible.

Land Owners

Already own land? Construction loans can finance the build on your existing lot.

Move-Up Buyers

Selling your current home and building your next one? Construction loans bridge the gap with flexible timing.

Frequently Asked Questions

Get answers to common questions about construction loans.

Ready to Get Started?

Q Home Loans specializes in construction loans for homebuyers and investors in Washington. Get expert guidance and competitive rates.

Apply Now