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Firebaugh sits in Fresno County, where the median household income of $71,434 stretches to cover new construction in the $400,000 to $600,000 range. Building new here means you control finishes and layout from the ground up.
Construction lending works differently than traditional mortgages. You borrow in phases as work progresses, not all at once. Interest accrues only on the amount drawn, which keeps early costs lower.
620+
Minimum FICO
15% to 25%
Down Payment Range
45 to 60 days
Typical Timeline
$71,434
County Median Income
Construction Loans in Firebaugh
Construction loans typically require 620+ FICO and 15% to 25% down. Lenders want to see proof of income and reserves. The county's median household income of $71,434 qualifies most buyers for construction in the $400,000 to $550,000 range.
Your builder's reputation and the project's timeline matter as much as your credit. Lenders review construction contracts, timelines, and the builder's track record. Appraisals happen at completion, not at closing.
Local decision guide
Use this guide to connect construction loans eligibility, lender expectations, and local market factors before comparing payment options in Firebaugh.
Firebaugh sits in Fresno County, where the median household income of $71,434 stretches to cover new construction in the $400,000 to $600,000 range. Building new here means you control finishes and layout from the ground up.
Construction lending works differently than traditional mortgages. You borrow in phases as work progresses, not all at once. Interest accrues only on the amount drawn, which keeps early costs lower.
Construction loans typically require 620+ FICO and 15% to 25% down. Lenders want to see proof of income and reserves. The county's median household income of $71,434 qualifies most buyers for construction in the $400,000 to $550,000 range.
Construction lending in California is tighter than purchase mortgages. Fewer lenders offer it, and those who do require stronger financials and proven builders. Rates typically run 0.25% to 0.5% higher than a standard 30-year fixed.
The process takes longer — expect 45 to 60 days from application to first draw. Lenders inspect the property at each phase. Some require the builder to be pre-approved; others work with any licensed contractor.
Construction loans make sense in Firebaugh when you've found land and a solid builder. The county's median income supports new construction in the $400,000 to $550,000 range without strain.
The real advantage is control. You pick materials, layout, and finishes. You're not competing with other buyers or inheriting someone else's renovation needs. That control costs time and a slightly higher rate.
A standard purchase mortgage closes faster and carries a lower rate. You buy an existing home, get the keys in 30 days, and move in. Construction loans take 45 to 60 days and require multiple inspections.
But construction lets you build exactly what you want. Purchase mortgages lock you into someone else's choices. If the existing inventory in Firebaugh doesn't fit your needs, construction is worth the extra time and cost.
Fresno County is experiencing a restaurant boom with at least 17 new establishments in development. That kind of local growth signals confidence in the area. New construction buyers benefit from rising property values as amenities expand.
The Tower District's Porchfest draws 400+ performances across 100+ porch venues annually. That cultural activity matters to buyers who want community. Building in or near Firebaugh puts you close to Fresno's growing dining and entertainment scene.
A construction loan funds in phases as work progresses. You pay interest only on the amount drawn. A mortgage funds all at once at closing. Construction is temporary; you refinance into a permanent mortgage when the home is done.
Most lenders require 15% to 25% down. Some require more if the builder is new or the project is complex. Your down payment reduces the lender's risk during construction.
Yes — the construction loan can include the land purchase price. You'll need to show the purchase contract and proof of the land's clear title. The lender will appraise the land and the proposed construction separately.
Expect 45 to 60 days from application to first draw. The lender needs time to review the builder, the plans, and the construction contract. Existing-home purchases close in 30 days — construction takes longer.
You refinance the construction loan into a permanent mortgage. The lender appraises the completed home. You then lock in a standard 30-year fixed rate and move in. The refinance typically closes within 30 days of completion.