Pillar Guide
Minnesota Construction Loans
Everything you need to know about financing your build in Minnesota..
What Is a Construction Loan?
A construction loan provides the funds needed to build a new home or complete a major renovation. Unlike a traditional mortgage, funds are disbursed in draws as construction milestones are completed.
Types of Construction Loans
One-Time Close
Combines construction financing and permanent mortgage into a single closing. You lock in your rate upfront and pay closing costs only once.
Two-Time Close
Requires separate short-term construction loan and permanent mortgage refinancing. Offers more lender flexibility but higher total closing costs.
Renovation Loans
FHA 203(k) and Fannie Mae HomeStyle loans let you finance both purchase and renovation of an existing home with a single loan.
How Davis Monroe Financial Helps
As a Minnesota mortgage broker, we compare multiple construction loan lenders to find the best fit for your project.
Explore our construction loan services
Important Disclosures: Davis Monroe Financial is a mortgage broker, not a lender. All loans are subject to credit approval. Rates and terms are subject to change without notice.