Custom Home Financing
Building a custom home in Dallas–Fort Worth means financing a period when the house does not exist yet, then arranging what happens once it does. A scenario review looks at your plans, your builder, your documentation situation, and which available programs may fit.
Program availability, documentation, and qualification requirements vary by borrower, property, lender, and loan program.
How construction financing works
Construction financing generally releases funds in stages as work is completed, rather than in one advance at closing. Some structures are arranged so the loan converts to a permanent mortgage when the build is finished, which can mean one closing rather than two. A custom build on a Dallas–Fort Worth lot has to be financed through a period when the house does not yet exist.
Review generally covers the build as well as the borrower: plans and budget, the builder, the site, and your documentation situation. A licensed Leahy Lending professional reviews those alongside the available program options.
Not sure how a construction path would work alongside your income documentation? Explore your options in a scenario review.
Start a Scenario Review →Find the right documentation path
A construction conversation may be worth exploring when you are building a home you intend to occupy. If the project is intended for sale on completion, a spec structure generally applies instead.
The right path depends on the project, your builder, how you document income, and what the available programs allow.
A construction conversation may be worth exploring when you are building a home you intend to occupy. If the project is intended for sale on completion, a spec structure generally applies instead.
A home loan option conversation may be worth exploring depending on how you earn income, the property you are considering, and which documentation best reflects your situation.
A bank statement mortgage option conversation may be worth exploring depending on how you earn income, the property you are considering, and which documentation best reflects your situation.
A self-employed mortgage conversation may be worth exploring depending on how you earn income, the property you are considering, and which documentation best reflects your situation.
Not sure which path fits? Start a scenario review, and we’ll help you identify the documentation conversation worth having.
Start a Scenario Review →The Leahy Lending approach
No single document decides a mortgage conversation. Before recommending a direction, we look at what you are trying to accomplish, how you earn or hold income, how that is documented, the property involved, and the options available to you.
The goal of a scenario review is to help you identify the documentation path worth exploring before you begin a secure application. It is not a loan decision, approval, rate quote, or commitment to lend.
Requirements and available options vary by borrower, property, lender, and loan program.
Construction loan questions
Every build is different. These answers explain common construction financing questions. They are not a loan decision or a guarantee of eligibility.
It is financing for building a home, generally releasing funds in stages as work is completed rather than in one advance at closing. Availability, structure, and qualification depend on the borrower, the project, the lender, and the loan program.
It describes a structure arranged so the construction financing converts to a permanent mortgage when the build is complete, rather than requiring a separate second closing. Whether it is available depends on the program and the rest of the file.
Funds are generally released in stages as work is completed and verified. The number of draws, inspection expectations, and timing vary by program and project.
Some construction options may be available to self-employed borrowers, and the documentation reviewed depends on the program. It is worth discussing your documentation situation and the build together rather than separately.
Not necessarily. Some structures include acquiring the site, others assume you already hold it. Which applies depends on the program and your situation.
No. The scenario review is designed to start a conversation about your project and your documentation situation. Do not submit account numbers, tax returns, or Social Security numbers through this form.
Construction program availability, structures, draw schedules, conversion terms, eligibility, and qualification can vary by lender, project, state, borrower profile, and current program guidelines. Nothing on this page is a loan approval, a commitment to lend, a rate quote, or a Loan Estimate.
Next step
If you are building a custom home in Dallas–Fort Worth, start with a brief scenario review. We will use your plans and documentation situation to guide the right conversation.
A scenario review is not a mortgage application, credit decision, rate quote, or commitment to lend.
WORK WITH ERIC BENNETT
For self-employed, complex-income, real-estate investor, and high-balance DFW mortgage scenarios, connect with Eric Bennett for an initial scenario review.
Mortgage options, documentation, eligibility, and terms vary by borrower, property, lender, and program.