How to choose
There’s no single “best” ground up construction loan lender — the best lender is the one whose guidelines and pricing fit your exact scenario. That’s why borrowers increasingly use an independent broker: instead of applying at five banks, one application at CDL Mortgage is priced across our entire wholesale lender panel.
Here’s what to look for when comparing ground up construction loan lenders — and how we stack up on each point.
Wholesale pricing from multiple lenders — a broker compares many investors on every ground up construction loan; a bank can only offer its own products.
A licensed loan officer, not a call center — one point of contact from pre-approval through closing.
Program depth — the best lender for your scenario may not be the best for your neighbor’s. Guideline flexibility matters.
Transparent fees — you should see exactly what you’re paying and what you’re getting for it, in writing.
Speed and communication — on-time closings win purchase contracts. Ask how often you’ll get status updates.
Local licensing — work with a lender licensed in your state who knows your county’s loan limits and closing customs.
Questions
Financing for building on vacant land — it can cover lot acquisition plus the full vertical construction budget. Funds are advanced in inspected draws against the builder\u2019s schedule of values, with interest only on the drawn balance.
Commonly 15–25% of total project cost. If you already own the lot free and clear, its equity often counts toward your required contribution and can reduce cash to close substantially.
Experience helps and drives your leverage. Newer builders can qualify with a licensed, insured, experienced general contractor, a realistic budget, and more equity in the deal.
You submit a draw request as each stage completes. An inspector verifies the work, then funds are released — typically within a few business days — so the build never stalls waiting on money.
Yes. A single facility can fund the lot purchase and the build, and can be structured to roll into a permanent mortgage or an investor rental loan at completion.
About Us
CDL Mortgage Services Inc. is an independent, full-service mortgage company. Instead of pushing one bank’s products, we shop multiple wholesale lenders to secure the best loan at the best rate for every borrower.
Purchase, refinance, and home equity — all under one roof, focused on the best loans at the best rates.
Based at 6524 Lonetree Blvd, Rocklin, CA 95765 and licensed in California, Texas, Georgia, Tennessee, Oklahoma & Idaho.
Every file is handled start-to-finish by a licensed loan officer who knows your name and your goals.
Fully licensed and regulated, with award-winning lender partnerships and 35+ years serving borrowers.