How to choose
There’s no single “best” new 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 new construction loan lenders — and how we stack up on each point.
Wholesale pricing from multiple lenders — a broker compares many investors on every new 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
The loan funds your build in inspected draws while you pay interest only on the amount drawn. On a one-time close, it converts automatically to your permanent mortgage when the home is finished — one application, one closing, one set of fees.
A single loan and single closing that covers both construction and the permanent mortgage. It locks your permanent terms up front and avoids the cost and requalification risk of a second closing.
Yes — and it usually helps. Your lot equity typically counts toward the down payment, which can dramatically reduce the cash you need at closing.
Generally 640–680+ for conventional one-time close programs, with FHA and VA new construction options available at lower scores for qualified borrowers.
Expect roughly 30–45 days to close before the build starts, then a 6–12 month construction period depending on the home, your builder, and local permitting.
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.