New Projects
Flexible Financing for
New Construction Projects
Quick, adaptable funding for new builds and developments.
Whether you’re building your dream home or developing your next investment property, New Century Mortgages delivers the short- and long-term financing you need to bring it to life.
Construction
What is a
New Construction Loan?
A new construction loan is short-term financing designed to cover the costs of building or developing a property from the ground up.
Instead of one lump-sum payment, funds are released in stages or “draws” as your project progresses — keeping your build funded and on schedule.
At New Century Mortgages, we specialize in flexible, investor-friendly construction loans that can easily transition into permanent financing once your project is complete.
Use a Construction Loan To:
-
- Build a primary or secondary residence
- Develop new investment properties
- Finance multi-unit or mixed-use projects
- Fund land acquisition and vertical construction
Quick Benefits
- Flexible Draw Schedules
- One-Time Close Options
- Competitive Interest Rates
- Build Equity from Day One
- Tailored for Builders and Investors
- Personalized Guidance
Frequently Asked Questions
How long are construction loan terms?
Most construction loans run between 6 and 18 months, depending on your project timeline and size.
Do I need to own the land first?
You can finance land acquisition and construction together — or use land you already own as part of your down payment.
How are funds disbursed?
Funds are released in draws, based on the progress of construction. Each draw is verified to keep your project on schedule.
Can I lock in a permanent loan after construction?
Yes — New Century Mortgages offers construction-to-permanent options so you can transition smoothly to a long-term mortgage once your build is complete.
What’s the minimum down payment?
Typically 10–20% down, depending on your credit, project type, and overall budget.
Can investors use construction loans?
Absolutely. We finance spec homes, rental builds, and multi-unit developments designed for long-term investment growth.
Loan Programs
Our Loan Programs
New Century Mortgages offers a full suite of asset-based lending solutions for serious real estate investors. Whether you're holding, flipping, or bridging to your next deal, we have capital ready to deploy.
DSCR Loans
Qualify based on property cash flow, not personal income. No minimum DSCR required. Rates from 6.25%.
Bridge Loans (Fix & Flip)
Fast, short-term financing for fix-and-flip projects. Close in 5 days. Up to 100% of rehab costs financed. 4-day draw processing.
New Construction
Ground-up construction financing for experienced builders. Build to rent or build to sell. Competitive terms for infill development.
Hard Money / Asset Based
Loan decisions based on property value, not credit. Construction draws in 4 days. Quick approvals for time-sensitive deals.
Portfolio Loans
Consolidate 5+ rental properties into one loan. Single payment, better cash flow. Lower rates and origination fees.
Commercial Real Estate
Multifamily 5+, mixed-use, office, retail, industrial. Financing for stabilization and value-add projects.