Construction Loan Requirements in Florida
What you need for a construction loan in Florida: down payment, an approved builder, detailed plans and budget, and qualifying credit. Licensed FL mortgage broker NMLS# 1859012.
By Onias Derilus, Mortgage Capital · NMLS# 1859012 · Last Updated: June 2026
Construction loans qualify both you and your project. Beyond the usual credit and income checks, the lender vets your builder, reviews detailed plans and a fixed budget, and appraises the home based on its completed value. Strong preparation here keeps the build on track.
What You Need to Qualify
A construction loan underwrites the borrower and the project together. You bring qualifying credit and income; the project brings approved plans, a fixed budget, and a vetted builder.
Most Florida construction programs land in a similar range. Your exact terms depend on the lender, the project scope, and your credit.
Your Builder and Plans
The lender reviews your builder's license, insurance, and track record, then approves them for the project. A signed construction contract with a fixed price and timeline anchors the loan.
You also submit complete plans, specifications, and a line-item budget. The lender uses these to set the draw schedule, releasing funds as the builder completes each milestone.
Appraising a Home That Isn't Built
A construction appraisal values the home based on the approved plans and the finished result, not the empty lot. That completed value sets your maximum loan and your loan-to-value.
Because the loan is sized on the finished home, accurate plans and a realistic budget protect you from coming up short mid-build. Review the numbers with us before you break ground.
Construction Loan Requirements — FAQ
You need qualifying credit, typically a score of 680 or higher, around 20% down, and a vetted project: an approved licensed builder, detailed plans, a fixed budget, and a signed construction contract. The home is appraised on its completed value.
Yes. The lender reviews your builder's license, insurance, and track record, then approves them for the project. A signed construction contract with a fixed price and timeline anchors the loan and the draw schedule.
A construction appraisal values the home based on the approved plans and the finished result, not the empty lot. That completed value sets your maximum loan, so accurate plans and a realistic budget are essential to avoid coming up short mid-build.
See If Your Project Qualifies for a Construction Loan
Single-close options · Build-to-permanent · Licensed FL mortgage broker NMLS# 1859012
Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.