Building a new house can mean different things for you and your family. It gives you the opportunity to live in the home that specifically designed for and by you, therefore meeting your every need. However, the construction process can be time-consuming, difficult, and complicated to finance.  Thus, it’s not meant for everyone.

New Construction mortgage programs give borrowers the opportunity to finance the construction of a new property. This form of mortgage is based on properties that have not been built yet.

The mode of operation of a New Construction Mortgage is dictated by how the house is built (whether you’re hiring a contractor, building the home yourself, or buying a newly constructed home).

When you are building a new home, your financing is set up construction through the permanent structure. Therefore, you obtain your mortgage loan before the home is even constructed. The loan is based on the home and builder contract, blueprints and permits to determine the value and duration of the build. Upon the completion of the building process, an appraisal is completed to determine final value of the property. 

What Are The Requirements For New Construction Mortgages?

To apply for a New Construction Mortgage, you need:


  • Detailed proof of employment and income.

  • A qualifying credit history.

  • A signed contract with the builder (if you are building the home yourself, you need copies of quotes on building costs).

  • A copy of the purchase offer for the land that the house will be built on.

  • Plans and house specification.

  • Proof of fire insurance.


How You Can Get a New Construction Mortgage

Contact Mortgage Specialists to talk to a mortgage professional about your plans. We can help you find the right loan that will align with your needs based on your financial strength and duration of the project.  We are here to explain this process every step of the way and ensure that your dreams of building a new house become a reality.


Construction Loan Financing Options

  • Programs start with as little as 5% down payment requirements

  • One time, upfront closing. Lock interest rate upfront before the construction phase

  • Minimum 680 credit score

  • Conventional Permanent Financing with 15, 20, 25 and 30 Year term options


2355 SE Seafury Lane

Port St. Lucie, FL 34952 

Broker NMLS# 1464934


T:  (772) 877-2041

F:  (772) 380-9014

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Mortgage Specialists

Mortgage Specialists services the entire state of Florida including Boca Raton, Fort Lauderdale, Fort Pierce, Melbourne, Palm Bay, Pompano Beach, Port St. Lucie, Stuart, Vero Beach and West Palm Beach.