A construction loan is designed to finance the building of a new home. Funds are distributed in stages as construction progresses, rather than in a single lump sum.
This structure allows financing to align with the timeline of your build.
Who This Loan Is Best For
Construction loans may be a good fit for:
Buyers building a custom home
Homeowners rebuilding or expanding
Borrowers working with approved builders
Buyers who prefer to finance construction in structured stages
Qualification Overview
Approval is based on factors such as:
Credit profile
Income and employment verification
Debt-to-income ratio
Construction plans and project details
We guide you through documentation requirements and help coordinate timelines.
Key Highlights
Down payment options starting at 5%
Minimum credit score 660
Interest rate lock options available up to 9 months
Interest-only payments during construction
How It Works
Our team coordinates with you and your builder to keep the process organized and on schedule.
1
Loan approval and builder review
2
Funds disbursed in scheduled draws
3
Interest-only payments during construction
4
Transition to permanent financing after completion
Why Work With Cody Financial
Construction financing involves multiple moving parts. We provide consistent communication and clear expectations from application through project completion.
