Construction Financing – Prime Source Lending

Design. Fund. Build. The Smart Way to Finance Your Dream Home

Your Path to a Brand-New Home

We’re here to guide you every step of the way, making the process smooth and stress-free.

Apply for a Loan

First things first—let’s set you up with a loan that fits your needs. Our expert loan officers will help you figure out your budget, pull your credit, and walk you through your financial qualifications and loan options. No guesswork here!

Look & Choose

Time to dream big! Pick your builder, design your dream home, and choose the perfect lot. Explore options, tour homes, and research to find the ideal fit that matches your style and budget.

Loan Approval

Once you’ve locked in your plans, we’ll order an appraisal and gather everything we need from your builder. Once approved, we’ll get you ready for the big day—loan closing to fund your construction!

Building Your Dream

Here comes the fun part—construction begins! We’ll monitor progress through regular inspections and make payments to your builder according to the agreed schedule. Your dream home is taking shape!

Finalize & Move In

Almost there! As construction wraps up, we’ll prepare your permanent loan, go through another round of approvals, and once everything’s good to go, we’ll close the deal. Then, it’s time to grab your keys and move into your new home!

How Do Construction Loans Work?

Building your dream home should be exciting, not confusing. Let’s break down how construction loans can work for you—so you can get started without the stress!

One-Time Close Construction Loan
A one-time close is all about simplicity. It combines both your construction loan and your long-term financing into one seamless transaction. What does that mean for you? You only close once, pay fees once, and your permanent financing is locked in from the very beginning. No surprises, just one smooth ride from start to finish!

Two-Time Close Construction Loan
Want a bit more flexibility? A two-time close might be the way to go. You’ll first secure financing for the construction phase (which is interest-only while you’re building), then close again for your permanent loan when the home is ready. This option lets you shop around for a better rate for your permanent financing down the road—and gives you extra flexibility with the timing of your build.

Whether you’re looking for ease or flexibility, we’ve got a construction loan to fit your needs!