There are a lot of moving parts when it comes to building your dream home on land you own. That’s why it’s important to choose an experienced builder and understand the financing options available.

Financing for Construction on Own Land

Construction loans are typically short-term loans that are paid off once the project is complete. Using owned land as collateral can significantly lower the loan-to-value ratio for borrowers, and allow for competitive rates and terms.

Aside from the standard financiamento para construção em terreno proprio for a mortgage, lenders will want to see a contract with your contractor that includes detailed pricing and plans for the project, as well as proof of credentials like insurance and banking references. They may also ask for a copy of the deed to your property and any other documentation that is necessary depending on the type of construction you are doing.

Understanding Financing for Construction on Your Own Land

TD Bank offers a land purchase and construction loan with a one-time closing that combines the lot purchase and the construction of your new home into a single loan and closing, making it easier to manage the financial side of the project. With a competitive rate and fee structure, this option can save you time and money by reducing the number of financial transactions you have to make during the construction process. Additionally, the streamlined approval process helps you move forward with your building plans quickly without delay.