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Construction Loans in Suisun City
Suisun City sits between Travis Air Force Base and the Delta waterfront. Vacant lots and teardown opportunities exist throughout older neighborhoods.
Construction loans here often beat buying finished homes in tight inventory conditions. Most borrowers convert to conventional or jumbo mortgages after completion.
Ground-up builds in Suisun City typically take 9-14 months. Your construction loan should match that timeline with room for delays.
Proximity to Fairfield and Vacaville drives interest in custom homes. Lenders view Solano County builds as lower risk than rural markets.
You need 680+ credit and 20-25% down for most construction loans. Lenders scrutinize builder experience and detailed project budgets.
Self-employed borrowers qualify if they show 2 years of stable income. The property becomes collateral only after foundation completion.
Your debt-to-income ratio counts the future mortgage payment, not construction draws. Plan for 43% DTI maximum on most programs.
Lenders require a licensed contractor with proof of insurance. Acting as owner-builder adds 5-10% to your down payment requirement.
Regional banks in Solano County offer construction-to-permanent loans in single close. National lenders split construction and takeout financing into two separate closings.
Single-close loans lock your permanent rate at approval. Two-close loans expose you to rate changes between construction and conversion.
Most lenders release funds in 5-7 draws tied to completion milestones. Expect inspections before each disbursement, adding 3-5 days per draw.
Construction-only loans require refinancing into permanent financing. These work if you plan to sell quickly or expect rates to drop.
I push clients toward single-close loans unless they're selling within 18 months. The rate lock eliminates refinance risk and saves closing costs.
Budget 15-20% above your contractor estimate for overruns. Lenders won't increase your loan mid-project without full re-approval.
Get three contractor bids before applying. Lenders reject deals when your builder's quote exceeds market norms by 25% or more.
Interest-only payments during construction run $800-1,200 monthly on a $400K loan. Account for this plus your current rent or mortgage.
Bridge loans fund land purchase before construction starts. Construction loans cover both land and building in one package if you don't own the lot.
Hard money works for fix-and-flip projects under 12 months. Construction loans suit owner-occupied builds with 12-24 month timelines.
Conventional loans after completion offer better rates than construction loans. The tradeoff is waiting for finished inventory in a tight market.
Jumbo construction loans start at $750K+ in Solano County. You'll need 25% down and 720 credit minimum for competitive terms.
Suisun City planning requires 60-90 days for permit approval on single-family builds. Factor this into your loan timeline and rate lock period.
Waterfront parcels near the marina face additional environmental reviews. Budget 30-45 extra days and $5K-8K in study costs.
Travis Air Force Base flight patterns create noise zones affecting resale value. Lenders appraise properties in these areas conservatively.
Solano County impact fees run $15K-25K depending on lot size and utilities. These come due before foundation work starts, not at closing.
Plan for 20-25% down on most construction loans. Acting as your own builder pushes this to 25-30% minimum.
Yes, with a single-close construction-to-permanent loan. This locks your rate at approval, protecting you from increases during the build.
Lenders rarely increase loan amounts after approval. Budget 15-20% above estimates to avoid covering overruns out of pocket.
Most construction loans run 12-18 months. Builds here typically take 9-14 months, leaving buffer for permit delays.
You pay interest-only on drawn funds during construction. Full principal and interest payments start after converting to permanent financing.
Yes, renovation construction loans work for gut rehabs or additions. You need detailed plans and licensed contractors like ground-up builds.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.