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New Construction Loans | Quazel Mortgage

🎖️ Veteran-Owned Business

🏠 Family-Owned & Operated

🔒 Licensed in UT · ID · FL · CO | NMLS #2133626

New Construction Loans

Build Your Home from the Ground Up

One loan, one closing, no scrambling to requalify when the builder finishes. We finance new construction from breaking ground to move-in day, then roll it straight into your permanent mortgage.

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🏗️ One-Time Close 📐 Builder & Owner-Builder Options 🎖️ VA New Construction Available

How It Works

Built for the Building Process

A construction loan covers the cost of land and building your home, then converts into a standard mortgage once the home is finished. With our one-time close option, you sign one set of loan documents at the start, not two. That means no second round of underwriting, no risk of your rate or approval changing halfway through the build.

Approve & Lock

We underwrite your loan against the builder's contract and your land, and lock your permanent rate upfront.

Build

Funds release to your builder in draws as construction hits each stage. You pay interest only on what's been drawn.

Move In

Once the home is complete, your construction loan converts automatically into your permanent mortgage. No second closing.

Who This Fits

Built for Utah's Growth Corridor

New construction is a big part of the market in fast-growing areas like Eagle Mountain, Saratoga Springs, and Herriman, where entire neighborhoods are being built out. We finance builder-contract new builds and owner-builder projects, plus VA, FHA, and conventional buyers building their first custom home.

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Builder Contract Homes

Buying a new build from a production or custom builder in a planned community.

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Owner-Builder Projects

Acting as your own general contractor on land you own or are purchasing.

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VA New Construction

Zero down new builds for eligible veterans, built to VA minimum property requirements.

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Land & Lot Financing

Already own the lot? We can roll it into your construction loan as equity toward your down payment.

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Barndominiums

Yes, we fund these too. Metal-frame and post-frame builds qualify the same way a stick-built home does.

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Common Questions

New Construction, Answered

Do I need a down payment during construction?

If you already own the lot, its value can often count toward your down payment. If you're financing land and construction together, down payment requirements depend on the loan program, VA can still mean zero down.

What happens if my build takes longer than expected?

We build in a standard construction period upfront and can extend it if the builder's timeline shifts. Your locked rate carries through as long as the loan stays within the agreed terms.

Is this different from a regular purchase loan?

Yes. Instead of one lump-sum payout at closing, funds release to the builder in draws tied to construction milestones. Once the home is complete, it converts into a normal mortgage automatically, no second application, no second closing.

Can I use this for a custom home on land I already own?

Yes. Owner-builder and custom-home construction loans are available, and any equity in land you already own can typically be applied toward your down payment.

Do you finance barndominiums?

Yes. Barndominiums qualify for construction and permanent financing the same way a traditional stick-built home does, as long as the property meets standard livability and appraisal requirements. This comes up a lot in Utah and Idaho, and it's one of our most common questions.

Ready to Break Ground?

Let's walk through your builder's contract or lot and get your construction loan structured right. Expect to close one week early.