Construction financing · Virginia

Build the home with the financing plan in place.

Construction financing adds plans, budgets, builder review, inspections and draws to the normal mortgage process. Joe helps organize the moving parts before construction begins.

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How it works

Start with the features that shape the decision.

One-time-close options

Some programs combine construction and permanent financing into one closing, subject to eligibility.

Builder and project review

The builder, plans, specifications, contract and budget are evaluated before closing.

Draw management

Funds are generally released in stages as work is completed and inspected.

Plan before you apply

Details to review with Joe.

Confirm land ownership, lot value and any existing liens.
Use a detailed construction contract and realistic contingency allowance.
Understand payment obligations during construction.
Plan for changes, inspections, draw timing and completion deadlines.

Common questions

Build the home with the financing plan in place FAQ

Can land equity count toward the transaction?

It may, depending on ownership, valuation, liens and program rules.

Do I make payments while the home is being built?

The payment structure varies. Some loans require interest payments based on funds advanced during construction.

Can I act as my own builder?

Owner-builder eligibility is limited and highly program-specific. Discuss it before committing to a project.

Renovation loans Jumbo loans Loan options

A clear comparison

See how this option fits your goals.

Joe can review your scenario, explain the tradeoffs and compare available alternatives without the jargon.

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Joe Rogers, EVP of Sales – Cornerstone Division and Mortgage Loan Originator, NMLS #188286. For informational purposes only. Loan programs, rates, terms and eligibility are subject to change without notice. All loans are subject to credit approval, property approval and underwriting requirements. Not all applicants will qualify. Equal Housing Opportunity.