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Montclair sits in the western edge of San Bernardino County, where buildable lots are scarce but still exist. If you find land here, a construction loan is often your only path to a finished home.
Construction loans are short-term financing — typically 12 to 18 months. Once building is done, the loan converts to a permanent mortgage.
680+
Min Credit Score
20% typical
Down Payment
12–18 months
Loan Term
Licensed & Bonded
Contractor Required
60–90 days
Permit Timeline
Lenders want a 680 or higher credit score for most construction loans. Some go lower, but your rate takes a hit and down payment requirements go up.
Expect to put 20% down on land and construction costs. Lenders also want a signed contract with a licensed general contractor before they fund anything.
Most retail banks offer construction loans, but their programs are rigid. They rarely flex on draw schedules or contractor requirements.
At SRK CAPITAL, we shop construction loan programs across 200+ wholesale lenders. That means more options on draw structures, qualification criteria, and rate terms.
The draw process trips up most first-time builders. Funds release in stages — foundation, framing, electrical, finish — after an inspector approves each phase.
Get your contractor licensed and bonded before applying. Lenders in San Bernardino County will verify this. A contractor problem at underwriting can kill your approval.
A bridge loan can fund a land purchase fast, but it won't cover construction costs. Construction loans are built for the full build cycle.
Hard money construction loans exist for borrowers who can't qualify conventionally. Rates are higher, but they close faster and ask fewer questions about income.
San Bernardino County requires permits through its Land Use Services division. Montclair projects also need city-level permits. Factor in 60 to 90 days for permit approval when planning your timeline.
Montclair's proximity to the 10 freeway makes it appealing for owner-builders. Demand for new construction here is real — finished homes don't sit long.
You borrow against the projected value of the finished home. Funds release in stages as construction milestones are inspected and approved.
Most lenders say no. Owner-builder programs exist but are rare and require proof of construction experience. Expect tighter terms.
The construction loan converts to a permanent mortgage. One-time close loans do this automatically, saving you a second round of closing costs.
Plan for 30 to 60 days. Lenders review your plans, contractor credentials, and budget before issuing approval. Don't rush the prep work.
Most programs require 680 or higher. Scores below that limit your options and increase your rate. Rates vary by borrower profile and market conditions.
Some programs include land acquisition. Others require you to already own the lot. Ask your broker which structure fits your situation.
Construction Loans in Montclair