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4 Strong Construction Loan Options in Florida for Building a Hurricane-Ready Home
Building in Florida means planning for more than floor plans. Flood zones, storm-ready construction, and insurance all shape the budget, and your lender will want to see them handled. Four strong construction loan options for Florida builds are Florida Credit Union, MIDFLORIDA Credit Union, Space Coast Credit Union, and TD Bank, each with a one-time close construction-to-permanent loan for Florida homes.
Disclosure: My Construction Path may be affiliated with, or receive compensation from, lenders featured in this article. Lenders are listed alphabetically, not ranked. Programs and availability change, so confirm details with each lender.
What we looked for
Each lender here had to show, on its own site:
- Florida lending for residential construction, with any membership or county limits stated
- A single closing that covers the construction phase and the permanent mortgage
- A defined draw process, ideally tied to inspections or milestones
- Clarity on eligible homes, such as primary residences, second homes, or manufactured homes
All facts come from lender pages or reputable third-party coverage.
Side-by-side comparison
| Lender | Who can apply | One-time close | Eligible homes | Builder & draws |
|---|---|---|---|---|
| Florida Credit Union | Members; based in Gainesville | Yes | Includes manufactured home and land options | Builder paid at agreed-upon key points |
| MIDFLORIDA Credit Union | Members; based in Lakeland | Yes | Primary and secondary single-family homes | How interest is handled during the build varies by lender. |
| Space Coast Credit Union | Members in dozens of listed Florida counties | Yes | Primary residence or second home | Builder paid at milestones after required inspections |
| TD Bank | Loan officers from Jacksonville to Miami Beach | Yes | 1-4 unit primary, second or vacation homes | Inspection at each draw; builder review |
Florida Credit Union
Who it fits: North and Central Florida members who own land, or want a one-loan path that also covers manufactured homes.
Florida Credit Union's construction-to-permanent financing is a one-time loan that funds construction and then converts into a permanent mortgage. How interest is handled during the build varies by lender.
Get connected with this lender
Notable features:
- Fixed and variable rate options
- Land you already own can be used to cover the down payment and other costs
- Manufactured home and land financing, including single-wide options
- Payments go to your builder at agreed-upon key points
- No upfront application fee
MIDFLORIDA Credit Union
Who it fits: Members building a primary or secondary single-family home who want rate certainty before the slab is poured.
MIDFLORIDA's construction-to-permanent loan lets you lock a rate before construction begins and close once for both the construction loan and the permanent mortgage. How interest is handled during the build varies by lender.
Get connected with this lender
Notable features:
- Available for construction of primary and secondary single-family residences
- Lot loans and jumbo mortgages are offered separately if you're still buying land or building a larger home
- Membership, eligibility, and credit approval are required
Space Coast Credit Union
Who it fits: Members across much of the peninsula who want an inspection-driven process from first draw to certificate of occupancy.
SCCU's construction-to-permanent loan is designed for a primary residence or second home, with one application, one closing, and one set of documents. SCCU works with your contractor on a draw schedule, and payments to the builder depend on passing required inspections.
Get connected with this lender
Notable features:
- How interest is handled during the build varies by lender.
- The loan converts automatically once the final inspection clears and the certificate of occupancy is received
- Jumbo, adjustable-rate, and no-closing-cost options are listed
- SCCU lists "no intangible tax" among its features
Membership is open to people who live or work in the Florida counties SCCU lists, from Duval and St. Johns down to Miami-Dade and Monroe.
TD Bank
Who it fits: Borrowers who already hold a lot loan, or who want a bank with loan officers across both Florida coasts.
TD's construction-to-permanent loan covers new construction and renovations with one application and one closing, then converts once the home is complete and a certificate of occupancy is provided. TD lists mortgage loan officers in Florida in cities including Boca Raton, Coral Gables, Fort Lauderdale, Jacksonville, Naples, Orlando, Stuart, and Tampa.
Get connected with this lender
Notable features:
- Fixed or adjustable options for 1-4 unit primary residences and second or vacation homes
- An existing loan on your lot is paid off with the first disbursement
- Inspections at each draw request, plus a review of the builder's financials, license, and insurance
TD doesn't offer construction financing for condos or co-ops, or FHA or VA construction loans.
Other Florida lenders to consider
Community Credit Union of Florida offers a one-time close construction-to-permanent loan for primary residences in Brevard County, with conventional and jumbo loan amounts, for members in Brevard, Orange, Osceola, Indian River, Volusia, and Polk counties. Citizens also lists Florida among its construction-to-permanent states.
Get connected with Community Credit Union of FloridaGet connected with Citizens
How to choose a Florida construction lender
- Confirm membership first. Three of the four lenders above are credit unions, and each sets its own eligibility rules by county or relationship.
- Pull the flood map before you buy the lot. Check the property on FEMA's Flood Map Service Center, then ask each lender when flood and windstorm coverage must be in place.
- Ask about Florida closing costs. Florida charges a nonrecurring intangible tax on mortgages, and SCCU and Community Credit Union of Florida both list "no intangible tax" as a feature. Ask each lender how it's handled on your loan.
- Budget for storm delays. Hurricane season can stall a job site. Ask what happens if the build runs past the construction period.
- Match the lender to your builder. Ask how builders are approved, and read our guide to jumbo construction loans if your coastal build will exceed conforming limits.
- Plan the handoff. Learn what you'll need to convert to a permanent mortgage after the build, including the final inspection and certificate of occupancy.
Frequently asked questions
Which lenders offer one-time close construction loans in Florida?
Florida Credit Union, MIDFLORIDA Credit Union, Space Coast Credit Union, and TD Bank all describe single-close construction-to-permanent loans on their official sites.
Do I need flood insurance during construction in Florida?
Possibly, depending on the property. Check your lot on FEMA's flood maps and ask your lender; Citizens, for example, notes a flood insurance premium may be collected during construction depending on location.
Can I finance a second home or vacation home build?
Yes, with some lenders. SCCU and TD both list second homes, and MIDFLORIDA covers secondary single-family residences.
Can I build a manufactured home with a construction loan?
Florida Credit Union lists manufactured home and land financing, including single-wide options. Most other programs above focus on site-built single-family homes.
What happens when the house is finished?
The loan converts to your permanent mortgage. SCCU, for example, converts once the final inspection clears and the certificate of occupancy is received, with no second closing.
Find your Florida construction lender
The right Florida lender depends on your county, membership options, flood zone, and builder. Get connected with a construction lender at My Construction Path to compare construction loan options for your land, budget, and timeline, and see which builder-friendly lenders serve your area.
My Construction Path may be affiliated with lenders featured in this article. Lender programs, eligibility, and service areas change often and vary by location. This article is for general education and is not a commitment to lend. All loans are subject to credit and property approval by the lender.