Construction Loans

Program Overview

Aileron Mortgage's ground-up construction program offers funding to builders and home buyers seeking to construct single family homes throughout Florida. The team at Aileron is extremely experienced in the construction lending space, with over 30 years' of combined experience and over $3 billion of residential construction loans funded over the years.

As a direct construction lender, Aileron is able to make credit decisions internally, giving us the ability to work through and approve special situations that many other lenders cannot. The following is an outline of most popular construction loan products:

FHA One-Time Close Construction to Permanent Loan
Loan Purpose:Construction of owner occupied primary residence; 1-4 unit
Loan Amount:Up to county limits for FHA loans
Minimum Credit Score:640
Loan to Value:Up to 96.5% Loan to Value/Cost
Lending Territory:All of Florida
Loan Term:Construction up to 12 months; Permanent loan 30 years
Rate:30 year fixed rate, locked up front or floating through construction
Borrower Equity Required:Minimum 3.5% down payment
Max Debt-to-Income Ratio:43% *exceptions made on a case-by-case basis
Highlight:No re-qualifying required; true one-time close
Conventional Construction Loans
Loan Purpose:Construction of owner occupied and investment properties
Loan Amount:Up to $417,000
Minimum Credit Score:680
Loan to Value:Up to 80% Loan to Value/Cost; Up to 75% for investment
Lending Territory:All of Florida
Loan Term:Construction up to 12 months; Permanent loan 30 years
Rate:30 year fixed rate, locked up front or floating through construction
Borrower Equity Required:Minimum 20% down payment
Max Debt-to-Income Ratio:43% *exceptions made on a case-by-case basis
VA One-Time Close Construction to Permanent Loan
Loan Purpose:Construction of owner occupied primary residence; 1-4 unit
Loan Amount:Up to $750,000
Minimum Credit Score:640
Loan to Value:Up to 100% Loan to Value/Cost *up to $417,000
Lending Territory:All of Florida
Loan Term:Construction up to 12 months; Permanent loan 30 years
Rate:30 year fixed rate, locked up front or floating through construction
Borrower Equity Required:No down payment required
Max Debt-to-Income Ratio:43% *exceptions made on a case-by-case basis
Highlight:No re-qualifying required; true one-time close