New Construction Loans in Raleigh & Across North Carolina
Building your dream home from the ground up is an exciting journey—but financing new construction can feel complex. At The Sherry Riano Team at Developer’s Mortgage Company, we make new construction loans simple, fast, and transparent. Whether you’re working with a builder or taking on a custom build, we serve homebuyers across Raleigh and all of North Carolina, helping you break ground with confidence.
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Why Choose a New Construction Loan?
If you’re buying a newly built home or managing a custom construction project, traditional mortgages may not apply. A new construction loan gives you flexibility. It allows you to finance the cost of land (when needed), labor, materials, and long-term mortgage—and often involves staged payments (“draws”) as construction milestones are met.
With our team, you get more than just a loan: you get speed, credit protection, and personal support every step of the way. We compare your options behind the scenes, protect your credit from unnecessary inquiries, offer same-day pre-approvals in many cases, and close in as little as 15 days when everything is aligned.
Types of New Construction Financing
We help you explore the right product for your project, including:
Builder-Preferred Financing / Spec Homes: When purchasing a new home built by a developer or builder, sometimes financing is offered through a preferred lender. These can offer incentives and smoother coordination.
Construction-to-Permanent Loans: This path combines the construction period and the permanent mortgage into one process. You close once at the start, funds are drawn as work progresses, then you transition into your long-term mortgage without re-closing.
Lot/Land + Construction Financing: If you need to buy land first, then build, this option packages both land purchase and construction costs together.
Custom Builds: When you have specific architectural or design plans, custom builder financing allows more flexibility, though qualifying may involve stricter underwriting.
What Makes The Sherry Riano Team Different
Not all lenders are the same when it comes to new construction in North Carolina. Here’s how we stand apart:
- Credit-First, Comparison-Driven: We shop multiple loan options for you without unnecessary credit inquiries—so your credit stays safer.
- Lightning-Fast Preapproval & Closing: In most cases, we can offer same-day preapprovals. And when timelines align, we aim to close construction loans in as little as 15 days.
- Transparent, Easy Process: Secure online document uploads, loan tracking dashboards, and clear explanations at every stage. You always know where your loan stands.
- Local Expertise: Based in Cary and serving Raleigh, Wake County, and all of North Carolina, we deeply understand local builders, codes, land costs, and market trends.
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How New Construction Loans Work
Here’s what you can expect when building with us:
How New Construction Loans Work
Here’s what you can expect when building with us:
Preapproval & Planning: You share your build plan, builder information, budget, and desired timeline. We get you preapproved, helping you understand what you can comfortably afford.
Land/Builder Contract & Draw Schedule: If land is involved, we finance that. We’ll also set up a draw schedule—milestones at which funds are released to the builder (e.g. foundation complete, framing, roofing, etc.).
Underwriting & Closing: We assess credit, contractor credentials, build plans, and budgets. Once everything meets the underwriting criteria, we close.
Construction Phase: Builder starts work. Funds are disbursed at agreed milestones. You track progress, approve draws, and upload documentation through our secure online portal.
Permanent Financing: Upon completion, your loan converts (if construction-to-permanent) or into a traditional mortgage. Final inspection ensures work meets agreed standards.
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Qualifying for a New Construction Loan
You’ll generally need:
- Strong credit or solid financials (we help you understand where you stand).
- A licensed, reputable builder or contractor with verifiable plans.
- Detailed build plans, cost estimates, and a timetable.
- Down payment or equity for land (if applicable).
We’ll guide you from the start so nothing unexpected pops up—and help you prepare the documentation so things go smoothly.
FAQs About New Construction Loans
Trust & Results
We don’t just talk fast—we deliver. Since 1999, The Sherry Riano Team has helped hundreds of North Carolina clients through new construction projects. We’re proud of our local reputation in Raleigh and Wake County. Our clients appreciate that we protect your credit, keep processes transparent, and convert complex builds into homes you love.
Hear from one homeowner:
“The team helped me finance my lot purchase and home build with clarity and speed. Same-day preapproval, and I knew exactly what I was in for every step of the way.” — Wake County homeowner
Qualifying for a New Construction Loan
You’ll generally need:
- Strong credit or solid financials (we help you understand where you stand).
- A licensed, reputable builder or contractor with verifiable plans.
- Detailed build plans, cost estimates, and a timetable.
- Down payment or equity for land (if applicable).
We’ll guide you from the start so nothing unexpected pops up—and help you prepare the documentation so things go smoothly.
Ready to Build Your New Home in Raleigh or Anywhere in NC?
If you’re ready to build a new home or choose a lot, we’re here to help you bring your vision to life—without surprises, delays, or confusion. Start your preapproval today or schedule a free consultation so we can walk you through your custom new construction options in Raleigh and all across North Carolina.
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