Building your dream home is easier than ever with our trusted financing partner. At Coastal Haven Dwellings, we work with lenders offering construction-to-permanent loans that streamline the financing process, combining your lot purchase, construction costs, and permanent mortgage into one convenient package.

A construction loan is a short-term financing solution—typically around 12 months—used to fund the building of your home. Once construction is complete, it transitions seamlessly into a permanent mortgage, so there’s no need for multiple loans.

During construction, you’ll only pay interest on the funds drawn from the loan. Plus, your interest payments may be tax-deductible.

Step 1: Verify Property Eligibility

• Your new home must be an owner-occupied primary residence or a second home.
• It must be a single-family detached home.
• A licensed builder, such as Coastal Haven Dwellings, must construct the home.

Step 2: Begin the Loan Application
Provide the following documents to start the loan process:

• A construction agreement outlining the cost of the home, including upgrades and lot value if purchased from the builder.
• A land contract for the lot, if applicable.
• A copy of the floor plan and facade of your home.
• A deed to the lot, if you already own it.

Step 3: Close on Your Loan

• After approval, you’ll receive a loan commitment document detailing requirements for your loan.
• At closing, you’ll need cash for closing costs and your down payment.

Step 4: Access Funds as Construction Progresses

• Funds from the construction loan are released incrementally based on completed inspections.
• You’ll pay the balance of the down payment at the initial construction closing.