Question 1

How much do I need down for a Calexico construction loan?

Accepted Answer

Most construction lenders require 20-25% down. That percentage applies to the total project cost including land, not just the construction budget.

Question 2

Can I act as my own general contractor to save money?

Accepted Answer

Some lenders allow owner-builder arrangements if you have construction experience and proper licensing. Most require a licensed general contractor with verifiable track record.

Question 3

How long does construction loan approval take in Imperial County?

Accepted Answer

Expect 45-60 days from application to funding. Appraisals based on future value take longer than standard comps, and lenders review your builder and plans carefully.

Question 4

What happens if construction takes longer than expected?

Accepted Answer

Most construction loans include a 12-month build window with possible extensions for a fee. Budget delays into your timeline because lenders charge extension fees and may adjust terms.

Question 5

Do construction loans work for major renovations or just new builds?

Accepted Answer

Construction loans fund both ground-up builds and major renovations requiring permits and structural work. Cosmetic remodels usually work better with cash-out refinances or HELOCs.

Question 6

What rate should I expect during the construction phase in Calexico?

Accepted Answer

Construction phase rates run 1-2% higher than conventional mortgages, with interest-only payments. Rates vary by borrower profile and market conditions as of February 2026.

Construction Loans in Calexico — Finance Your Custom Build or Major Renovation