New Construction Loans in Redding, CA
Your source for New Construction Loans in California & Beyond
New Construction Loans
Building your home just got easier.
Our dedicated, experienced, IN-HOUSE Construction Lending Team has streamlined the construction loan process. We’ve got you covered when it comes to funding your dream home. Choose from a One-Time Close or Two-Time Close construction loan — whichever option fits your build best.
We understand each project is different, and we can work with you and your builders to get it done!
*Other restrictions and guidelines apply. Please contact lender for full program details.
How Do Construction Loans Work?
We offer both One-Time Close and Two-Time Close Construction Loans, so you can choose the option that fits your needs.
With a One-Time Close Construction Loan, your construction financing and permanent mortgage are combined into a single loan and a single closing — your long-term rate is locked in before construction even begins.
With a Two-Time Close Construction Loan, you’ll have one loan to pay for the construction, then as construction nears completion, you’ll get a second loan to pay off the construction loan and become your permanent financing.
Either way, payments on the construction loan are interest-only, and you can choose to make monthly payments or build them into your loan. Once construction is complete, your permanent financing is a traditional loan, where you make principal and interest payments monthly just like any other mortgage.
Why choose US Lending for your New Construction loan?
The draw process:
Your US Lending loan officer and our Construction Lending Team will work closely with your builder to ensure the construction process goes as smoothly as possible.
It all begins with a well-defined and proven DRAW PROCESS. Key features below:
Quick Turn Times
Inspector is dispatched with 24-72 hrs and draw is funded within a day or 2 after approval.
Direct Payments
Draw payments are made via wire transfers or checks are mailed. (based on your needs)
Subcontractors paid Directly
If requested, all subs must sign lean waivers, but can be paid directly.
Easy Draws and Approvals
Our construction lending team keeps things moving smoothly.
No Set Contingency
We require up to 10% based on project needs.
Site Prep Funding
Up to 50% can be funded at construction loan closing.
Final Inspection
A final inspection is required to receive final draw funds.
Up to 12 Months
We offer plenty of build time to complete your project.
Benefits of a New Construction Loan from US Lending
Looking to build a new single-family home? US Lending has a great construction loan for you — now available as both a One-Time Close and a Two-Time Close construction loan.
With a One-Time Close Construction Loan, your construction loan and permanent mortgage are combined into a single loan and a single closing. Your long-term financing — and your rate — is locked in before construction begins, so there’s no second closing and no second set of fees.
With a Two-Time Close Construction Loan, you’ll have one loan that funds the construction phase, and then, as your house nears completion, you’ll get a second loan that pays off the construction loan and becomes your permanent financing. This option lets you forward-lock your permanent financing right at the beginning or at any time during the process, so you won’t have to worry about where interest rates will be when your home reaches completion.
With either option, you pay only the interest (known as interest-only) during the construction phase, which can be paid in monthly payments or rolled into your loan. When the house is done, your permanent loan begins — monthly payments go toward principal and interest, just like any other mortgage.
Our construction loans also offer an up to 12-month term (6 months longer than most mortgage lenders).
For loan examples and more information visit our disclosure page at https://uslendingcompany.com/disclosures/
