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Financing a buildFinancing that follows the build.
A construction loan funds a home that does not exist yet — land, then staged draws as the build progresses, then conversion to a permanent mortgage. Carl has built new construction himself and knows the points where budgets and timelines wobble.
No SSN. No credit pull. Carl Mataushek, NMLS #1945717.
How the phases work
- Land — purchased outright or rolled into the financing, with existing equity counting toward the down payment.
- Draws — funds released in stages as work completes and passes inspection, with interest charged only on what has been drawn.
- Conversion — at completion the balance becomes a permanent mortgage, on a rate structure agreed in advance.
Where these files actually go wrong
Rarely on rate. Construction loans stall on timeline and documentation: a builder slower than their own schedule, a draw request missing paperwork, a rate lock expiring before completion, an appraisal on plans that comes in under the project budget. The lock horizon is the item worth understanding before you commit — how long it holds, what an extension costs, and what happens if the build runs past it.
Building in West Orange County
Horizon West is among the fastest-growing planned communities in the country, and much of what happens there is production building rather than a custom build on your own lot — two quite different financings. Production builders usually have their own lender relationships worth comparing against an outside quote. A custom build on acreage toward Clermont or Oakland is where a true construction-to-permanent loan earns its keep. And budget for the CDD assessment early, because it counts in your ratio at conversion.
Construction Loans — straight answers
How does a construction-to-permanent loan work?
It is a single financing package with two phases. During construction you draw funds in stages as work is completed and inspected, paying interest only on what has been drawn. When the home is finished the loan converts to a standard permanent mortgage — one closing, one set of costs, rather than two separate transactions.
How much do I need down?
Typically twenty percent or more of total project cost, though land you already own can count toward that. If you bought the lot some time ago and it has appreciated, that equity often supplies a meaningful share of the requirement.
What if the build runs over budget?
It happens, which is why the loan carries a contingency reserve from the start. Overruns beyond it come from your pocket, so the honest move is to build the contingency around your builder's actual history rather than the optimistic figure. Carl would rather structure for the real number than watch a file stall in month seven.
Can I use a builder's preferred lender instead?
You can, and sometimes their incentives make it worthwhile — but that quote should be compared, not accepted. Builder affiliates are one lender with one set of guidelines. Carl will tell you honestly when their incentive beats what he can find, which happens often enough to be worth the comparison either way.
Let's see what you qualify for.
Tell Carl where you're at and he'll come back with what's actually possible — usually the same day.
- No SSN and no credit pull at this stage
- Carl calls or texts you back personally — usually same day
- 14 states licensed · NMLS #1945717
Prefer to talk first? (321) 229-8084
Got it — that's on Carl's phone already.
He reviews every one personally and will reach out shortly. If it's urgent, call or text (321) 229-8084.
Ready for the full application?
If you already know what you want and would rather get straight into it, you can start the formal application now instead of waiting for Carl to call.
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