Construction Loans

 

What is a Construction Loan?

A construction loan finances the building of a structure, typically a home.  It is funded in numerous disbursements as progress is made. These loans are interest only while construction is being completed; usually over a period of 6-36 months. Once finished, it is up to the borrower(s) to convert the loan into a conventional mortgage or sell the property.

 

Western Highland Mortgage provides Construction Loans with the following criteria:

• Spec homes for contractors

• Future primary residences, as a bridge loan

• Business Purpose loans for construction projects

• Owner-builders with construction experience

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We loan up to 65% Loan-To-Cost based on the total cost of construction.  Typically, a borrower will need to own the land free and clear and have paid for permit fees.

 

Areas of service include (but are not limited to):

• ​Northern California

  • Sacramento & the surrounding areas

  • Lake Tahoe: All areas of the basin, Truckee & Tahoe Donner

  • Lassen County

  • El Dorado County

  • Amador County

  • Shasta County

  • Glenn County

  • Tehama County

  • Butte County

  • Mono County

  • Alpine County

• Northern Nevada

  • Reno & the surrounding areas

  • Douglas County

  • Washoe County