Construction Loan Lender in Knoxville

Is a Construction Loan Right for You?

Building a new home is an exciting journey, but securing the right financing is just as important as choosing the perfect floor plan. A Construction Loan allows you to finance the building process from start to finish.

Traditional vs. One-Time Close Construction Loans

The traditional construction loan process involves two separate loans:
✔ One for construction (short-term financing).
✔ Another for permanent financing (your long-term mortgage).

This means two qualifications, two closings, and double the costs. But we’ve made the process simpler, faster, and more affordable with our One-Time Close Construction Loan.

Why Choose a One-Time Close Construction Loan?

✔ One approval, one closing – Saves time and reduces stress.
✔ Lower overall costs – Avoid paying for two separate loan closings.
✔ Locked-in interest rate – Protects you from rate hikes during construction.
✔ Streamlined payments – We handle builder payments through a structured draw schedule.

Many builders prefer these loans because they reduce risk, making it easier for you to move forward with confidence.

How the Construction Loan Process Works

Step 1: Connect with John

We’ll gather details about your financial situation, home plans, and timeline.

Step 2: Explore Your Loan Options

Based on your unique scenario, we’ll present loan options that fit your needs.

Step 3: Lock in Your Rate & Approve Your Loan

Once you’ve selected the best option, we’ll secure your financing.

Step 4: Construction Begins

Funds are disbursed in phases based on the construction progress.

Step 5: Move In!

Once your home is complete, your loan automatically converts into a standard mortgage with no additional closing required.

ho Qualifies for a Construction Loan?

To qualify, you’ll generally need:
✔ A credit score (higher scores may unlock better terms).
✔ A down payment (varies by loan type – VA may offer 0% down).
✔ Stable income and employment history.
✔ An approved builder and construction plans.

Get Prequalified Today!

Ready to start building your dream home? Let’s connect! I’ll guide you through the process and find the best financing solution for you.

📞 Call or Text: 865-745-5626
📧 Email: John.Fleming@CardinalFinancial.com

Let’s turn your dream home into reality!

APPLY NOW
Construction Loans in Knoxville

FAQs About Construction Loans

❓ Can I use this loan for a modular or manufactured home?
✅ Yes! Our One-Time Close Construction Loans work for site-built, modular, and manufactured homes.

❓ How are builder payments handled?
✅ Funds are disbursed in draws as construction progresses, ensuring your builder gets paid at key milestones.

❓ What if construction takes longer than expected?
✅ We offer flexible timeframes to accommodate delays and ensure a smooth transition to permanent financing.

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    Get Pre-Approved

    We proudly help customers in Knox County, Hamblen County, Anderson County, Union County, Sevier County, Blount County and more.

    Let us help find the right mortgage for you and your family. We'll discuss all of your loan options, what fits best for your budget and for your future plans.

    With John Fleming of Let's Mortgage, you're guaranteed to be in good hands during the home buying process.

    We look forward to hearing from you!

    This is not a commitment to lend. By clicking 'Submit,' you agree that Cardinal Financial and its employees may call or text you, including through automated means, at the number provided. You understand that you are not required to consent as a condition of qualifying for a loan.