Build or Renovate
Construction Loans
Building is a different kind of loan, with draws, budgets and timelines that all have to line up.
Overview
How Terry approaches it.
Construction loans fund a project in stages as the work is completed, rather than all at once. That means the budget, the builder and the draw schedule all need to be right before the first payment goes out.
Construction financing is one of Terry’s specialties. He helps you choose the structure that fits, whether that is a ground-up build, a major renovation, or an addition such as an ADU, and walks you through how the loan converts once the project is finished.
Terry WilliamsSenior Loan Advisor · NMLS #219863
Highlights
Construction Loans at a glance.
Ground-up builds
Financing for building a new home on your lot.
Renovations and additions
Fund the remodel or the ADU along with the home.
Draw schedules explained
Know exactly how and when your builder gets paid.
A plan for the finish line
How the loan converts to permanent financing when the work is done.
How It Runs
Six steps, with Terry in every one.
01Conversation & Strategy
Terry starts with your goals, timeline, income, assets and credit, and anything unusual about the scenario.
02Pre-Approval
Your documents are reviewed and verified up front, so your pre-approval holds up when it matters.
03Compare Programs
Loan programs and pricing are compared side by side, with the payment and the long-term cost shown for each.
04Application & Rate Lock
Once you are under contract or ready to refinance, the application is completed and your rate is locked.
05Underwriting & Appraisal
Terry works through conditions as they come up and keeps you and your real estate agent informed.
06Clear to Close
Final figures are reviewed with you before signing, then the loan funds and you get the keys.
Specialties
Other loans Terry focuses on.
First-Time Buyers
Low down payment options and a pre-approval you can actually shop with.
Learn more →VA Loans
A benefit veterans earned: no down payment options and no monthly mortgage insurance.
Learn more →