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Chowchilla sits in Madera County, where the median household income of $75,496 supports a range of new construction and renovation projects. Building from the ground up or adding to an existing home requires a different financing path than a standard purchase.
Construction loans work in phases — you draw funds as work progresses, not all at once. Interest accrues only on the amount you've drawn, which keeps early costs lower. Once construction wraps, the loan converts to permanent financing.
700+
Minimum FICO
20%
Typical Down Payment
45–60 days
Timeline to First Draw
$75,496
Madera County Median Income
Construction Loans in Chowchilla
Construction loans in Chowchilla typically require 700+ FICO, 20% down, and solid proof of income. Lenders want to see that you can carry both the construction loan and the permanent mortgage once the project finishes.
The county's median household income of $75,496 gives you a sense of what local lenders expect to see. Construction projects in Madera County range widely — from modest additions to full custom builds.
Local decision guide
Use this guide to connect construction loans eligibility, lender expectations, and local market factors before comparing payment options in Chowchilla.
Chowchilla sits in Madera County, where the median household income of $75,496 supports a range of new construction and renovation projects. Building from the ground up or adding to an existing home requires a different financing path than a standard purchase.
Construction loans work in phases — you draw funds as work progresses, not all at once. Interest accrues only on the amount you've drawn, which keeps early costs lower. Once construction wraps, the loan converts to permanent financing.
Construction loans in Chowchilla typically require 700+ FICO, 20% down, and solid proof of income. Lenders want to see that you can carry both the construction loan and the permanent mortgage once the project finishes.
Construction lending in California is tighter than purchase lending. Most lenders require a pre-approved permanent mortgage before they'll fund the construction phase. This dual approval takes longer — plan for 45 to 60 days from application to first draw.
Portfolio lenders and credit unions often move faster than big banks on construction loans. Retail banks have stricter overlays on builder experience and project scope. Brokers can shop multiple lenders to find the best fit for your timeline and project type.
Construction loans make sense in Chowchilla when you own land or have a clear renovation plan. If you're buying an existing home and want to move in quickly, a standard purchase loan is simpler.
The real advantage emerges when you're building custom. You control the timeline, the materials, and the final product. That control costs you in complexity, but for buyers who know exactly what they want, it's worth the extra steps.
A standard purchase loan closes faster and requires less documentation. You move in within 30 days. Construction loans take longer but let you build exactly what you want instead of buying someone else's choices.
If you're buying an existing home in Chowchilla, a conventional or FHA purchase loan is simpler. If you're building or renovating, construction financing is the only path. The choice depends on whether you're buying ready-made or creating custom.
Chowchilla's location in Madera County offers affordable land compared to coastal California. New construction here appeals to buyers seeking space and lower entry prices. The county's growth supports long-term property values for new builds.
Local builders in the area range from small custom shops to regional firms. Your lender will want to verify the builder's track record and licensing. Choosing an experienced local builder strengthens your loan application.
Most lenders require 20% down on construction loans. Some portfolio lenders go as low as 15% for strong borrowers. The down payment covers the land and initial construction costs.
Most lenders require 700+ FICO for construction loans. A few portfolio lenders will work with 680+ if you have strong income and reserves. Call to discuss your specific situation.
The construction loan converts to a permanent mortgage. You'll have already been pre-approved for the permanent loan before construction started. The conversion typically happens within 30 days of project completion.
Yes — interest accrues on the amount you've drawn. You typically make interest-only payments during construction. Once the loan converts, you begin principal and interest payments on the full amount.
Plan for 45 to 60 days from application to first draw. This includes appraisal, underwriting, and permanent-loan approval. The actual construction timeline is separate and depends on your project scope.