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Corning sits in Tehama County with room to build. Land is available at prices you won't find closer to Sacramento or the Bay Area.
Rural California towns like Corning often have more buildable lots than move-in inventory. A construction loan lets you act on that opportunity.
680 typical
Min Credit Score
20–25%
Down Payment
One-time or two-close
Closes
6 months min
Reserves Required
Varies by program
Rate Type
Construction Loans in Corning
Construction loans require stronger credit than a standard purchase. Most lenders want a 680 or higher. Some go to 660 with compensating factors.
You'll also need reserves. Lenders want to see you can cover payments if the build runs over schedule. Plan for 6 months of reserves minimum.
Local decision guide
Use this guide to connect construction loans eligibility, lender expectations, and local market factors before comparing payment options in Corning.
Corning sits in Tehama County with room to build. Land is available at prices you won't find closer to Sacramento or the Bay Area.
Rural California towns like Corning often have more buildable lots than move-in inventory. A construction loan lets you act on that opportunity.
Construction loans require stronger credit than a standard purchase. Most lenders want a 680 or higher. Some go to 660 with compensating factors.
Not every lender does construction loans. Big retail banks often pass on them entirely. Wholesale lenders tend to have more flexible programs.
As a broker, we shop across 200+ wholesale lenders. That matters for construction — program availability varies a lot from lender to lender.
The one-time close construction loan is worth knowing. You lock your rate and close once — no second loan at completion. It reduces cost and risk.
Two-close loans let you shop rates at conversion but add closing costs twice. In a stable rate environment, one-time close usually wins.
Bridge loans can fund a land purchase while you arrange construction financing. That two-step approach works for buyers who need to move fast on a lot.
Hard money is faster but expensive. For a full build in Corning, a conventional construction loan almost always beats hard money on total cost.
Tehama County has its own permitting and inspection timeline. Build your schedule around local permit delays — they affect draw disbursements.
Rural properties in Corning may need well and septic. Lenders factor utility infrastructure into the appraisal. Know this before you pick a lot.
You borrow in stages called draws as the build progresses. At completion, the loan converts to a permanent mortgage.
Some lenders allow owner-builder loans but most require a licensed GC. Options are limited — ask us what's available.
Most programs start at 680. Lower scores narrow your options significantly, especially for rural Tehama County properties.
Expect 20-25% down. Construction is higher risk for lenders, so down payment requirements are stricter than a standard purchase.
Cost overruns come out of pocket unless you built a contingency into the loan. Budget 10-15% above your contractor's bid.
No. We can finance builds throughout Tehama County. Rural and ag-adjacent lots just need extra underwriting review.