Mortgages
Construction Loans
A construction mortgage releases funds in stages as the build progresses. The financing is processed through RMA Mortgages; we help you prepare the budget lenders expect and coordinate the inspections that trigger each draw.
- Progress-Draw Financing
- Owner-Builder and Contractor Builds
- Land Purchase Plus Construction
- Conversion to a Standard Mortgage at Completion
How Draws Work
Lenders typically advance funds at set milestones, for example foundation, lock-up, drywall and completion. An inspector confirms each stage before the draw is released. Interest is charged only on funds advanced.
What Lenders Want to See
A detailed budget, a fixed-price contract or a realistic owner-builder plan, permits, drawings and a contingency reserve. We help you assemble a complete package so the lender can decide without going back and forth for missing documents.
FAQ
Common Questions
Can I finance the land as well?
Yes. Many lenders combine the land purchase and the construction financing into one facility.
What happens when construction is complete?
The construction loan converts to a standard mortgage. You can close with any lawyer; the closing offer applies when Marwah Law handles the closing.
Do I need a contractor?
Owner-builder projects are possible with some lenders but require more documentation and a larger down payment.
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