Question 1

How does a construction loan work in Turlock?

Accepted Answer

You borrow to fund the build, then convert to a permanent mortgage at completion. Lenders release funds in stages as work is finished.

Question 2

Can I use a construction loan to buy the lot too?

Accepted Answer

Yes. Many construction loans cover land purchase plus building costs. You'll need a strong profile to wrap both into one loan.

Question 3

What credit score do I need for a construction loan?

Accepted Answer

Most lenders want 680 or higher. Lower scores exist but expect higher rates and stricter conditions.

Question 4

How long does a construction loan last?

Accepted Answer

Typically 12 months. Extensions are possible but cost extra. Have a realistic build timeline before you close.

Question 5

Do I make payments during construction?

Accepted Answer

Usually interest-only on funds drawn so far. Full principal payments start after conversion to permanent financing.

Question 6

Can I be my own contractor in Turlock?

Accepted Answer

Some lenders allow owner-builder loans, but most don't. Expect a smaller pool of options if you go that route.

Construction Loans in Turlock, CA — Build What You Can't Buy