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Corcoran sits in Kings County, a rural Central Valley market where existing inventory is tight. Building new often makes more sense than waiting for the right listing.
Construction loans fund the build first, then convert to a permanent mortgage. That two-phase structure fits Corcoran buyers who want control over what they're getting.
680+
Min Credit Score
20–25%
Typical Down Payment
Up to 12 Months
Typical Build Term
200+ Wholesale
Lender Network
Varies by Structure
Rate Type
Construction Loans in Corcoran
Most lenders want a 680 credit score minimum for construction loans. Some programs go lower, but expect tighter terms and higher rates below that threshold.
Down payments typically run 20-25%. Lenders see construction as higher risk than a finished home purchase. Strong reserves help your file considerably.
Local decision guide
Use this guide to connect construction loans eligibility, lender expectations, and local market factors before comparing payment options in Corcoran.
Corcoran sits in Kings County, a rural Central Valley market where existing inventory is tight. Building new often makes more sense than waiting for the right listing.
Construction loans fund the build first, then convert to a permanent mortgage. That two-phase structure fits Corcoran buyers who want control over what they're getting.
Most lenders want a 680 credit score minimum for construction loans. Some programs go lower, but expect tighter terms and higher rates below that threshold.
Not every lender does construction loans. Most retail banks offer one product with rigid terms. Wholesale lenders give us more flexibility on structure.
We work with 200+ wholesale lenders. That matters here — construction loan guidelines vary widely, and one lender's hard no is another's approved file.
The draw schedule is where deals get complicated. Funds release in stages as construction milestones hit — not all at once. Plan your contractor payments around that.
One-time-close construction loans save you a second round of closing costs. Two-time-close gives rate flexibility. We pick based on your timeline and risk tolerance.
Bridge loans cover short gaps but don't fund a full build. Hard money moves faster but costs more. Construction loans are built specifically for ground-up projects.
Conventional purchase loans won't work on an unfinished property. A construction-to-permanent loan is the clean path from dirt lot to move-in ready.
Kings County permit timelines affect your draw schedule. Get permits pulled before you lock your rate — delays cost money on a construction loan.
Rural lot financing in Corcoran may require a separate land loan first. We can sequence that correctly so you're not scrambling mid-build.
Yes, but lender eligibility depends on zoning and acreage. Agricultural designations can complicate approval — we screen for that upfront.
Funds release in stages tied to completed milestones. An inspector verifies each phase before the lender releases the next draw.
One-time-close combines construction and permanent financing into one closing. Two-time-close lets you shop rates again after the build finishes.
Most lenders require it. Owner-builder programs exist but are harder to qualify for and carry stricter documentation requirements.
Build phases typically run 12 months. Extensions are possible but usually cost extra. Build your timeline conservatively.
Target 680 or above for the best program access. Below that, options shrink and terms tighten. Rates vary by borrower profile and market conditions.