Construction Loans Colorado Springs

Dreaming of building your own home in Colorado Springs? Our construction loans Colorado Springs offer trusted financing solutions—whether you’re working with a custom home builder, tackling a major renovation, or financing land + build. Our one‑time close, VA, FHA, conventional, jumbo and renovation loans are designed to provide seamless funding in phases, clear communication, and a smooth transition to your permanent mortgage. Explore your loan options today.

Why choose construction loans in Colorado Springs?

Local lenders understand our unique market—from mountain Builds in Black Forest to ranch-style homes in Peyton, Monument and Falcon. Community banks and credit unions like Alpine Bank, Elevations Credit Union and Ent Credit Union offer in‑house decisions, faster construction draws, interest‑only payments during build phase, and lasting relationships. Learn about our mortgage process.

Types of construction loan programs we offer

We tailor the loan to your project’s needs:

• One‑Time Close (construction‑to‑permanent): Single closing, fixed rate, one set of closing costs—no re‑approval needed once construction wraps up.
• VA Construction‑to‑Perm: Zero down options for eligible veterans, single close—just like standard VA. Explore VA loans.
• FHA Construction‑to‑Perm (203(k)): Low down payment (3.5%) and flexible credit needs—ideal for remodels. Check FHA programs.
• Conventional Construction Loans: For borrowers with strong credit and larger down payments, includes jumbo deals for high-cost custom builds.
• Renovation Loans: Wrap major remodeling into purchase or refinance—simplify upgrades in one mortgage.

How construction loans work in Colorado Springs

Here’s our process explained:

1. You and the lender agree on a detailed budget and draw schedule.
2. Funds are paid in stages—foundation, framing, roofing, and close‑out. Typically interest‑only on disbursed amounts; no extra house payments. Check Conventional loan options.
3. Once construction is complete and your CO occupancy is issued, the loan converts to a permanent mortgage.

Local lenders like Alpine Bank emphasize quick contractor draws—often same‑day payments—keeping your project on time :contentReference[oaicite:1]{index=1}. Elevations CU can finance up to $7 M and even let you use land equity as a down payment :contentReference[oaicite:2]{index=2}. Ent Credit Union, based right here in Colorado Springs, offers personalized service and community focus :contentReference[oaicite:3]{index=3}.

What you’ll need to qualify

Typical requirements include:

• Credit score 680+, steady income
• Land ownership or lot purchase
• Builder with valid license, insurance, and local references
• Detailed construction plans, cost estimates, contract
• Down payment: often 15–25% or equity in lot :contentReference[oaicite:4]{index=4}

Benefits of one‑time close construction loans

Our one‑time close loans deliver:

• Single closing—save on closing costs and hassle :contentReference[oaicite:5]{index=5}
• Rate locks on construction and permanent loan
• Streamlined draws and simplified financing

Plus interest‑only payments during construction so your current mortgage can stay in place :contentReference[oaicite:6]{index=6}.

Communities we serve

Across El Paso County—from Southeast Springs, Stratmoor, and Fountain to Northgate, Monument, Peyton, and Falcon—our lending partners provide local expertise and builder relationships. Find your new neighborhood.

Local lender highlights

• Alpine Bank: One‑time close and construction lines, in‑house underwriting, fast draws, local decision‑making :contentReference[oaicite:7]{index=7}.
• Elevations Credit Union: Loans up to $7 M, use your land’s equity, interest‑only during construction :contentReference[oaicite:8]{index=8}.
• Ent Credit Union: Community‑focused, Colorado Springs‑based mortgage center with flexible real estate lending :contentReference[oaicite:9]{index=9}.

Typical costs & rates

Construction loan rates in the Colorado market typically run ~0.5–1.5 pts above standard mortgage rates, and you pay interest only on draws :contentReference[oaicite:10]{index=10}. Fees vary—ask us for current local cost estimates.

Ready to start building?

Contact us to discuss your plans, share your lot or builder details, and target loan type. We’ll connect you with the right lender partner and manage the entire process—or call to speak with a Colorado construction specialist.

Please reach out for land + lot + build one‑time close construction loans, VA zero‑down builds, FHA or renovation projects, jumbo builds, or conventional construction financing. Connect with us now.

Closing: Whether you’re building a new home, renovating, or financing a second property, J.D. Mortgage supports all loan types: VA, FHA, USDA, DPA, investment property, non-QM (DSCR, bank statement, ITIN), HELOCs, seconds, reverse, and construction loans. Explore all loan programs.