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Loomis sits in a sweet spot — rural feel, Placer County infrastructure, and room to build. That combination makes construction lending a real option here.
Lots in Loomis often have acreage. Construction loans are designed for exactly that: land plus a custom build financed together.
680+
Min Credit Score
20-25%
Down Payment
12-18 Months
Build Window
One-Time-Close
Loan Structure
Interest-Only
During Construction
Construction Loans in Loomis
Most construction lenders want a 680 credit score minimum. Some go lower, but your rate takes a hit fast below that threshold.
Expect a 20-25% down payment. Lenders see construction as higher risk than a finished home — they price that in upfront.
Local decision guide
Use this guide to connect construction loans eligibility, lender expectations, and local market factors before comparing payment options in Loomis.
Loomis sits in a sweet spot — rural feel, Placer County infrastructure, and room to build. That combination makes construction lending a real option here.
Lots in Loomis often have acreage. Construction loans are designed for exactly that: land plus a custom build financed together.
Most construction lenders want a 680 credit score minimum. Some go lower, but your rate takes a hit fast below that threshold.
Few retail banks offer true construction loans. Most that do have rigid builder approval lists and slow draw processes.
Wholesale lenders we work with move faster and accept more builder types. That matters when your contractor needs funds mid-frame.
The most common mistake I see: borrowers lock a lot before securing construction financing. Get the loan commitment first.
One-time-close construction loans convert to a permanent mortgage automatically. That saves you a second round of closing costs.
Bridge loans can fund a lot purchase short-term. But they don't cover construction — you'd need two separate loan products.
Hard money moves fast but costs more. If your timeline is tight and conventional approval is slow, hard money can bridge the gap while you qualify.
Placer County has specific grading and septic requirements. These add time to permits — budget 60-90 days before a shovel hits dirt.
Well and septic builds in Loomis require county sign-off before final loan conversion. Plan your draw schedule around that inspection.
Yes. Most one-time-close construction loans cover the land purchase and build under one loan. You close once and convert to a permanent mortgage when the home is done.
Lenders release funds in stages as construction milestones are verified. An inspector confirms each phase before your contractor gets paid.
Yes, but only on what's been drawn. Payments are interest-only during the build phase. Full principal and interest starts after conversion.
Most lenders won't advance extra funds mid-build. That's why a 10-15% contingency reserve in your budget is critical before you break ground.
Most construction loans allow 12 months to complete the build. Some lenders extend to 18 months — especially important for larger Placer County projects.
Yes. Lenders require a licensed, insured general contractor. Some also want to review the contractor's financials and completed project history.