Ready to Build Your Dream Home?
Whether you’re building a custom home from the ground up or purchasing land to bring your vision to life later, we offer flexible construction loan programs to help make it happen—without the stress.
One-time & two-time close construction loan options
Low to no down payment programs available
Build on your own land or find a lot with our help
Flexible terms & fast, local decisions
Ability to work with the preferred builder of your choosing
Ready to Build Your Dream Home?
Whether you’re building a custom home from the ground up or purchasing land to bring your vision to life later, we offer flexible construction loan programs to help make it happen—without the stress.
One-time & two-time close construction loan options
Low to no down payment programs available
Build on your own land or find a lot with our help
Flexible terms & fast, local decisions
Ability to work with the preferred builder of your choosing
One-Time Close Construction Loans
Best for: Buyers needing to purchase land or looking for low down payment solutions. This loan combines land, construction, and permanent financing into one easy closing, saving time and money.
One closing = one set of fees and less stress
Flexible builder choice—you’re not tied to a builder list
Finance your land purchase or build on land you already own
No interest payments during construction (optional)
All underwriting and construction management handled in-house
True market rate applied at modification to permanent loan
Up to 12-month build timeline
Site-Built homes
Manufactured homes
Barndominiums (floor plan approval required)
Primary or second homes (Conventional only)
Up to 100% financing
Minimum 620 credit score
Primary residence only
Up to 96.5% financing
Minimum 620 credit score
Primary residence only
Up to 95% financing
Minimum 700 credit score
Eligible for primary and secondary residences
Two-Time Close Construction Loans
Best for: Buyers who already own land or plan to sell their current home during construction. This option gives you more control and flexibility by separating your construction loan and your final mortgage.
Two closings: One for construction, one for your final mortgage
Up to 90% of Appraised Value – use your lot equity as down payment
Interest-only payments during the 12-month construction phase
No interest payments during construction (optional)
Sell your current home during construction and use the proceeds to reduce your final mortgage balance
Lock your permanent loan later— capture the best market opportunity
Flexible debt-to-income limits in qualifying scenarios
All underwriting and construction management handled in-house
Site-Built homes
Manufactured homes
Barndominiums (floor plan approval required)
Primary or second homes
Up to 90% financing
Minimum 700 credit score
Eligible for primary and secondary residences
Don’t Settle for a One-Size-Fits-All Construction Loan.
Not sure what option fits you best? Let’s talk through your goals and help you choose the construction loan that fits your build, budget, and timeline.
Let’s Talk Before You Break Ground!
One-Time Close New Construction Programs
Our One-Time Close Construction loan makes building your new home easier—and more affordable—than ever. With low to no down payment options, flexible builder selection, and in-house construction administration, we help take the stress out of the process so you can focus on your vision. Whether you already own land or are looking to buy, we’ll work with you to tailor the loan to your unique needs—including options for site-built homes, manufactured homes, and even barndominiums. Enjoy a single set of closing costs, flexible build times ranging from 6 to 12 months, and multiple loan programs available—including VA, FHA, and Conventional.
Types of One-Time Close Programs
VA Loans
Exclusive benefits for veterans, active-duty military, and their families.
Loan to Value: Up to 100%
Credit Score: Minimum 620
Build on your own lot or buy land
No interest payments during construction
FHA
Government-backed loans designed to make homeownership accessible.
Loan to Value: Up to 96.5%
Credit Score: Minimum 620
Build on your own lot or buy land
Clients can elect for no interest payments during construction
Conventional Loans
A popular choice for buyers with good credit and some savings.
Loan to Value: Up to 95%
Credit Score: Minimum 700
Build on your own lot or buy land
Clients can elect for no interest payments during construction
Can do Primary or Secondary homes
Two-Time Close New Construction Program
Our Two-Time Close Construction loan offers a flexible path to building your new home—ideal for buyers who want more control over their timeline and financing strategy. With a 12-month interest-only construction phase and the option to customize your permanent loan once the home is complete, this program is designed with adaptability in mind.
Two separate closings: one for construction, one for your end mortgage
Interest-only payments during the 12-month construction phase
Option to sell your current home during construction and use proceeds
No immediate rate lock—lock in when you're ready
Higher debt-to-income allowance in certain scenarios
All underwriting and construction management handled in-house
Why work with The CL Team at Luminate Bank?
Choosing the right loan is just the first step—we’re here to guide you through every stage of the home buying process.
Expert Guidance: Navigating the different options as a first-time homebuyer can be overwhelming – we are experienced in all the loan’s options outlined above and can help you compare options and find the best fit.
Fast, Easy Pre-Approval: Get pre-approved quickly so you can start house hunting with confidence.
Personalized Solutions: Every buyer’s journey is unique—your loan should be, too.