Question 1

Can I buy the land and build with one loan in Exeter?

Accepted Answer

Yes. Many construction loans include lot purchase in the total amount. You close once and draw funds as the project progresses.

Question 2

How long do construction loans last in Tulare County?

Accepted Answer

Most run 12-18 months. Exeter permit timelines can push builds long — make sure your lender allows extensions.

Question 3

Do I make full mortgage payments during construction?

Accepted Answer

No. You pay interest only on the funds drawn so far. Full payments start after the loan converts to permanent financing.

Question 4

What credit score do I need for a construction loan?

Accepted Answer

Target 680 or higher. Some lenders go to 620, but you'll pay for it in rate and stricter conditions. Rates vary by borrower profile.

Question 5

Does my builder need lender approval?

Accepted Answer

Yes. Lenders vet builders before approving the loan. Use a licensed, insured contractor with a verifiable track record.

Question 6

What happens if construction runs over budget?

Accepted Answer

Overruns come out of pocket unless you built contingency into the loan. Always budget 5-10% above your contractor's estimate.

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