Ground-up financing on a draw schedule — funds release as the build progresses, not all upfront. For developers building spec homes, investors building rentals, or buyers building primary residences.
Every program is built for a specific borrower. Here’s where this one tends to be the right call.
You’re building to sell — one home or a series. Construction financing covers land and build costs with draws tied to completed phases and an exit at the listing.
You’ve identified a tear-down or infill lot and want to build a rental or flip. One loan covers acquisition and construction; you refinance into permanent financing at certificate of occupancy.
You’re building your own home — either self-contracting or with a GC. Construction financing holds the land and funds the build; a permanent mortgage takes over at completion.
One point of contact, start to finish. Here’s what working with Manor looks like.
Plans, permits, contractor bids, and budget are submitted for review. Your loan officer assesses the total loan-to-cost, the build timeline, and the exit strategy before proceeding.
Lender orders an as-complete appraisal — what the property will be worth when finished. This drives the maximum loan amount. Plans need to be at a sufficient stage of completion for a credible appraisal.
Loan closes with an initial draw for land (if not already owned) and mobilization costs. Subsequent draws are released as completed work is verified — typically by inspections at key milestones.
At certificate of occupancy, the construction loan is paid off — either through sale proceeds or a refinance into permanent long-term financing. Your loan officer can set up the permanent loan in parallel so you don’t miss a beat.
Share your project details — lot, plans stage, contractor relationship, and exit — and your loan officer will tell you what programs fit and what they cost.
Expect a response within one business day. Or reach out directly at dru@manorhomes.co
Every program is built for a different scenario. Browse the others below.