What is the largest construction loan on this site?
Maximum loan amounts vary by lender and program. Lenders on our list that offer jumbo construction programs are marked on the lender page.
Construction loan questions and answers
These are short answers to the questions people ask most before building with a construction loan: how large a loan can be, whether you need a builder, whether land you own can count toward your down payment, and how one-close and two-close loans differ. Confirm details with each lender before you apply.
Do I need a builder before I apply?
Usually, yes. Most construction lenders want a licensed, experienced builder, and many do not finance owner-builder projects. Your builder and your plans are reviewed as part of underwriting, so check each lender’s requirements before you apply.
Can lot equity count as my down payment?
Often, when the lot is already in your name. Some lenders let the equity in land you own count toward the down payment, and some look at the finished value of the home. How land equity is treated varies by lender and program, so ask each lender how they handle it.
One-close vs two-close?
One-close is a single application that becomes the permanent mortgage after the build. Two-close is a short construction loan plus a second mortgage later.