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Benicia's historic character and limited housing inventory make new construction a real option here. Buildable lots exist, but they require the right financing from day one.
Construction loans fund the build in stages — called draws. When the home is done, the loan converts to a permanent mortgage.
680+
Min Credit Score
20–25%
Typical Down Payment
Up to 12 months
Construction Phase
200+ wholesale
Lender Network
Construction Loans in Benicia
Lenders require stronger credit for construction loans — typically 680 or higher. Debt-to-income ratios are scrutinized more than on a standard purchase.
You'll need a licensed general contractor and approved plans before most lenders will underwrite the deal. Lenders are financing a future asset, not a finished one.
Local decision guide
Use this guide to connect construction loans eligibility, lender expectations, and local market factors before comparing payment options in Benicia.
Benicia's historic character and limited housing inventory make new construction a real option here. Buildable lots exist, but they require the right financing from day one.
Construction loans fund the build in stages — called draws. When the home is done, the loan converts to a permanent mortgage.
Lenders require stronger credit for construction loans — typically 680 or higher. Debt-to-income ratios are scrutinized more than on a standard purchase.
Most retail banks offer construction loans, but their programs are rigid. Wholesale lenders give us more flexibility on loan structure and draw schedules.
With 200+ wholesale lenders, we can shop construction programs built for Solano County projects — not generic national templates.
The biggest mistake builders make: starting construction before the loan is locked. Delays in underwriting can stall your project and cost you real money.
Get your contractor's bid, timeline, and license verified before you apply. Lenders will ask for all of it — having it ready speeds up approval.
A bridge loan can work if you're buying land and need short-term capital. But for a full build, a construction-to-permanent loan is cleaner — one close, two phases.
Hard money construction loans close fast but carry high rates. They fit investors on tight timelines, not families building a primary residence.
Benicia sits in a historic district. Some parcels have design review requirements that add time before permits are issued. Factor that into your build timeline.
Solano County permit timelines vary. Talk to your contractor about realistic schedules — lenders will ask for a draw timeline tied to permits.
The lender releases funds in stages as your contractor hits milestones. At completion, the loan converts to a standard mortgage.
Yes. Every lender we work with requires a licensed, insured general contractor. Owner-builder programs exist but are rare and restrictive.
Some programs offer rate locks at construction close. Others float until conversion. We'll find the structure that fits your risk tolerance.
Most lenders want 680 or above. Stronger credit opens better rate options at the conversion stage. Rates vary by borrower profile and market conditions.
Most construction phases run 12 months. Extensions are possible but cost money. A realistic build timeline protects your loan terms.
Expect 20-25% down based on the total project cost — land plus build. Some lenders use land equity as part of your down payment.