Question 1

What credit score do I need for a construction loan in Imperial?

Accepted Answer

Most lenders start at 680. Strong reserves or a larger down payment can sometimes offset a lower score.

Question 2

Can I act as my own general contractor?

Accepted Answer

Most lenders say no. They want a licensed, insured GC with a track record they can verify.

Question 3

How do draw schedules work?

Accepted Answer

Lenders release funds in stages tied to completed milestones. Your builder gets paid as work is verified, not all upfront.

Question 4

What is a one-time-close construction loan?

Accepted Answer

It combines the construction loan and permanent mortgage into one closing. You save on closing costs and lock your rate early.

Question 5

How long does a construction loan last in California?

Accepted Answer

Typically 12 months. Some lenders offer 18-month terms for larger or more complex builds.

Question 6

Do construction loans cover land purchase in Imperial?

Accepted Answer

Some programs do. If you already own the land, that equity can count toward your down payment requirement.

Construction Loans in Imperial, CA — Build Instead of Buy