Qualification guide
Wondering whether you qualify for a new construction loan? Below is what lenders actually look at — and remember that guidelines are a starting point, not a wall. As a broker, CDL Mortgage works with lenders whose overlays differ, so a “no” from one bank is often a “yes” somewhere else.
New construction loans in California, Texas, Georgia, Tennessee, Oklahoma, and Idaho for custom homes and new builds. One-time close construction-to-permanent financing, land-plus-build structures, interest-only payments during construction, and FHA and VA new construction options. CDL Mortgage takes you from blueprints to permanent mortgage without a second closing.
Credit score — each program has a minimum score, and stronger credit improves both approval odds and pricing.
Income & employment — lenders verify stable, documentable income; self-employed borrowers have flexible-doc options.
Down payment / equity — requirements vary by program, from 0% down (VA, USDA) up to 20–25% for investor loans.
Debt-to-income ratio — your total monthly debts vs. gross income; most programs want this under roughly 43–50%.
Property standards — the home must meet the new construction loan program’s appraisal and condition guidelines.
Reserves — some programs want a few months of payments in savings after closing, especially for larger loans.
Requirements
General guidelines — final qualification depends on the lender, property, and your full financial profile.
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.