Construction Financing

A Better Way to Finance Your Build

At Cambria Mortgage, we believe building your home should feel exciting, not overwhelming. Construction financing works differently than a traditional mortgage, but you have options. Our local team will guide you through every step of the process, helping you understand how construction loans work and identifying the structure that best fits your timeline, budget, and long-term goals.
Construction Loan Options
During your meeting with your Cambria Mortgage Consultant, you will review two primary construction financing options. Traditional Two-Time Close: separate construction and permanent loans with two closings. Cambria OneClose (One-Time Close): A single loan that combines construction and permanent financing into one streamlined transaction. We’ll help you determine which structure best fits your timeline, budget, and long-term goals.
Cambria OneClose
With our One-Time Close program, your construction financing and long-term mortgage are combined into one simple loan with one closing at the start of your build. That means: one approval process, one closing, no re-qualification after construction, and a more streamlined path from groundbreaking to move-in. Unlike traditional construction financing, which often requires two loans and two sets of closing costs, Cambria OneClose is designed to simplify the experience and reduce unnecessary fees along the way.
Get More Information
Contact us today for more information about construction financing and answers to frequently asked questions.

Loan Program FAQs

How do I know which mortgage program is right for me?

The right type of mortgage for you depends on many different factors including, but not limited to, your current financial situation, expectations, objectives and comfort level. Our mortgage consultants will work with you to find the mortgage that best suits your needs.

What is a reverse mortgage?

Eliminate those “what if” feelings / Make the most of retirement A reverse mortgage is a special type of home loan allows you to borrow against the equity you’ve established in your home. The “reverse” part of a reverse mortgage is that instead of making monthly payments you receive them. A reverse mortgage can help:
  • Eliminate an existing mortgage
  • Supplement your income
  • Avoid foreclosure
  • Cover medical expenses
  • Update your home
  • Pay off existing debt
Enjoy financial freedom You are eligible to receive a Reverse Mortgage if you are older than 62 years old, own and occupy your home as your principal residence. There are no income; employment or credit requirements to qualify. Lender’s use a formula based on the youngest borrower’s age and the FHA Lending limit, your home’s appraised value and current interest rates. Usually the older you are the lower the rate and the more money you will receive. You can choose how you want to receive your cash: a lump sum, monthly payments, as a line of credit or a combination of all options. Feel secure with your decision You do not need to repay the loan until your home is no longer your principal residence. You will need to keep current on tax and insurance payments and maintaining the property. You and your heirs can pay the balance due at any time with no penalty, or sell the home and use the proceeds to pay off the Reverse Mortgage. Keep in mind that your home will likely appreciate over the years and that any equity left after you repay your loan will always belong to you or your heirs. We’re with you all the way Since each senior’s situation is unique, it is important that you talk to someone you can trust when exploring your Reverse Mortgage options. Contact Cambria Mortgage today – we specialize in helping senior homeowners make the most of retirement.

What is a VA loan?

VA loans are guaranteed against default by the U.S. Department of Veteran Affairs. VA loans require no down payment and are offered exclusively to United States military personnel who are active, discharged or retired. VA loans often carry lower interest rates than conventional loans.

What is an FHA loan?

The Federal Housing Administration (FHA) was established to advance opportunities for Americans to own homes. By providing private lenders with mortgage insurance, the FHA gives them the security they need to lend to buyers who might not be able to qualify for conventional loans. Some FHA loans are available with as little as 3.5% down payment.

What is a jumbo mortgage?

A mortgage that exceeds eligible conforming loan limits (currently $453,100) is a jumbo loan. The interest rates on jumbo mortgages are typically higher than conforming mortgages, and vary depending on property types and mortgage amount.

What are conforming loans?

Conforming loans are fixed-rate or adjustable-rate mortgages that meet Fannie Mae and Freddie Mac loan limits as well as property and borrower guidelines. The current limit on these loans is $453,100.