New Construction Loan

Construction financing is a special field. 1stAllaince Mortgage has the construction programs to serve you from the lot purchase to move in. Our construction loan experts will make the process smooth. If you plan to build in the Houston area simply complete this form for a loan scenario quote and consultation or call 713-203-0209 in our Houston Texas office.

A spec (investment) construction loan is viewed as a more risky loan by most lenders. The rate can be higher and the terms may vary more than an owner occupied property. As is with other loans, the terms and conditions of the loan will be determined by the creditworthiness, the loan to value ratios and the overall package.

Spec loans are construction only loans and may require a lender to furnish them a commitment letter to pay off the construction loan with permanent financing at the completion of construction. Working with several local Houston Texas and national sources, we can provide loans for most all real estate transactions, but our specialty is construction and construction to permanent financing.

We pride ourselves in our ability to work with many variations of loans and match you and your project with the best source of funds. Please check out the other pages of our web page for additional information. Call us and ask about our Land Loans, Construction Loans, Owner Builder Loans, Spec Home Loans we're here to help.

A construction loan known as a One Time Close program provides financing, purchase of the lot and the eventual permanent loan, all in one. Why worry about re-qualifying, re-appraisals or incur additional closing costs?