Purchase Loans
Construction
Building from the ground up — we finance the build and lot.
Construction loans finance your dream home from the ground up — from land acquisition through the final walkthrough. One loan, one closing, start to finish. In Washington, where buildable lots are scarce in metro areas but plentiful in places like Skagit, Mason, Kitsap, and Eastern WA, construction financing is how a lot of families get exactly the home they want.
Key Features
- • Finance land + build in one loan
- • Interest-only payments during construction
- • Converts to permanent mortgage upon completion
- • Single closing saves time and money vs. two separate loans
- • Draw schedule tied to inspected build milestones
- • Conventional, jumbo, VA, and FHA construction options
The construction loan timeline
Pre-approval and builder vetting (2–4 weeks). Plans, specs, and budget approval (2–3 weeks). Appraisal of the as-completed value (2–3 weeks). Closing and groundbreaking. Construction phase with periodic draws (6–12+ months). Final inspection and certificate of occupancy. Conversion to permanent mortgage. Move in.
Construction in Washington
WA's permit and inspection environment varies wildly by county — Seattle and King County are slow and strict; rural Stevens, Pend Oreille, and Okanogan are faster but require more rural-savvy appraisers. Snohomish, Pierce, Kitsap, and Skagit are the sweet spots for buildable lots within driving distance of jobs. I pair you with builder-friendly lenders that understand WA's seismic, snow-load, and energy-code requirements.
Pros
- • Get exactly the home you want
- • One closing, one set of fees
- • Land equity can cover most/all of the down payment
- • Interest-only payments during build
Cons
- • Stricter credit and reserve requirements
- • Slightly higher rates than standard mortgages
- • Construction-period payments on top of your current rent/mortgage
- • Timeline risk if the builder runs long
Best for: Buyers with strong credit, a lot (or lot budget), a trustworthy WA-licensed builder, and the patience to live through a 9–12 month build. Bring me the builder before you sign the construction contract.
Common Questions
Related Loan Types
Popular WA markets for Construction
Construction lending works best in WA's growth corridors with buildable lots within commuting distance.