Residential
Construction Loan (Residential) in Palm Beach, FL
What is a Construction Loan (Residential)? Construction Loan (Residential) is a specialized mortgage solution offered by CMRE for real estate financing. This program provides tailored terms, flexible underwriting, and expedited closing timelines to meet the unique needs of property buyers and investors in Palm Beach, FL.
Palm Beach homebuyers trust Custom Mortgage for their Construction Loan (Residential) needs. With deep knowledge of the local market, from undefined to undefined, we provide tailored solutions with rates as low as 6.875%.
Key Facts About Construction Loan (Residential)
CMRE Construction Loan (Residential) offers competitive rates for qualified borrowers.
CMRE processes Construction Loan (Residential) in 21-30 days from application.
CMRE offers cross-collateral options for Construction Loan (Residential).
CMRE Construction Loan (Residential) accepts alternative income documentation for self-employed.
CMRE processes Construction Loan (Residential) in 21-30 days.
CMRE Construction Loan (Residential) accepts alternative income documentation.
CMRE Construction Loan (Residential) available for primary, second home, and investment.
Program Benefits
Finance the construction of your dream home with a single loan.
Competitive interest rates starting at 6.875%.
Simplified loan process with expert guidance from CMRE.
Flexible loan terms tailored to your individual needs.
Build equity from the ground up as your home's value increases during construction.
Opportunity to customize your home to your exact specifications.
Program Highlights
Max LTV
97%
Min Credit Score
620
Max DTI
50%
Loan Amount Range
$100K - $3M
Amortization Options
Eligible Properties
- Single Family
- Townhouse
- Modular Homes
Program Requirements
Income Documentation
- •Stable and verifiable income source.
- •Sufficient income to cover existing debts and the new mortgage payment.
- •Documentation such as pay stubs, W-2s, and tax returns may be required.
- •Self-employed borrowers may need to provide additional documentation.
Asset Verification
- •Sufficient assets to cover the down payment, closing costs, and construction contingency reserves.
- •Acceptable asset types include savings accounts, checking accounts, and investment accounts.
- •Clear documentation of asset ownership and balances is required.
- •Gift funds may be allowed with proper documentation.
Insurance & Title
- •Builder's risk insurance to protect the property during construction.
- •Hazard insurance policy effective upon completion of construction.
- •Flood insurance may be required depending on the property's location.
- •Liability insurance to protect against accidents or injuries during construction.
Property Requirements
- •Minimum FICO score of 620.
- •Review of credit history to assess creditworthiness.
- •Demonstrated history of responsible credit management.
- •Significant derogatory credit events may require additional explanation or documentation.
Construction Loan (Residential) in Palm Beach: The Complete Guide
What Is Construction Loan (Residential)?
A residential construction loan is a short-term loan used to finance the building of a new home. Unlike a traditional mortgage, funds are disbursed in stages as construction progresses. This type of loan typically converts into a permanent mortgage once the construction is complete. CMRE provides expert guidance throughout this process, ensuring a smooth and transparent experience for our clients.
Who Qualifies for Construction Loan (Residential)?
- •Income documentation varies: W-2, 1-Year Tax Return (Freddie Mac), bank statement, VOE-only, or P&L options available through CMRE.
- •Credit requirements depend on specific Construction Loan (Residential) guidelines — CMRE evaluates your full profile.
- •Down payment assistance programs can be combined with Construction Loan (Residential) for eligible borrowers.
- •Cross-collateral options: leverage existing property equity to reduce your down payment.
Construction Loan (Residential) vs. Other Options
- •CMRE compares Construction Loan (Residential) against FHA, VA, and other residential programs to find lowest total cost.
- •Factors: credit score, down payment, self-employment status, property type, ownership period.
- •For self-employed: CMRE's VOE-only and P&L programs may provide better qualification.
- •CMRE runs multiple scenarios and recommends the program with best long-term value.
Apply for Construction Loan (Residential) with CMRE
- •Step 1: Pre-qualification online, by phone, or via Instant Advisor.
- •Step 2: Pre-approval with documentation — issued within 24 hours.
- •Step 3: Property search — CMRE coordinates with your agent.
- •Step 4: Processing and underwriting in 14-21 days.
- •Step 5: Closing in 21-30 days total from application.
Current Mortgage Rates
30-Year Fixed Rate
6%
as of 3/5/2026 · FRED
Est. Monthly Payment in Palm Beach County
$2,425/mo
Based on $505,500 median · 20% down · P&I only
15-Year Fixed Rate
5.43%
as of 3/5/2026 · FRED
Est. Monthly Payment in Palm Beach County
$3,289/mo
Based on $505,500 median · 20% down · P&I only
Rates are national averages and may differ from your actual rate. Contact us for a personalized quote.
Get Your Rate →Live Market Data: Palm Beach County
Source: Redfin · 2025-12-31Median Sale Price
$505,500
Median List Price
$529,999
Price / Sq Ft
$292.254
Days on Market
87
Active Listings
12,890
Homes Sold
2,228
Sale-to-List Ratio
94.7%
2025 Conforming Loan Limits: PALM BEACH
1-Unit (SFR)
$806,500
2-Unit (Duplex)
$1,032,320
3-Unit (Triplex)
$1,247,655
4-Unit (Fourplex)
$1,550,899
Source: FHFA 2025 Conforming Loan Limits. Loans above these limits require jumbo financing.
Construction Loan (Residential) in Palm Beach, FL
Palm Beach County is performing more strongly than its headline inventory numbers suggest. Despite 12,890 active listings and an 87-day median days on market, prices have held — up 1.1% year-over-year to a median of $505,500 — and the 94.7% sale-to-list ratio reflects a bifurcated market where luxury properties transact at a discount while the sub-$600K segment remains competitive. The county has absorbed a significant wave of high-net-worth migration from the Northeast and Midwest, and that demographic anchor continues to support pricing floors.
West Palm Beach, Boca Raton, and Wellington are each operating as distinct sub-markets with different price dynamics. Luxury buyers above $2M are the most deliberate and rate-insensitive; the $600K-$1.2M move-up segment is where we see the most rate sensitivity and where seller-funded buydowns are most effective. The $806,500 conforming limit is a tool for the entry portion of the market; much of Palm Beach transactions require high-balance conventional or jumbo programs.
Palm Beach County has attracted a wave of private equity principals, hedge fund managers, and family office capital that relocated during and after the pandemic. These high-net-worth borrowers often have complex income structures — partnership distributions, carried interest, capital gains — that require jumbo underwriting with flexible income documentation. At the same time, the county's healthcare, education, and hospitality workforce creates steady conventional and FHA purchase volume at the lower end of the price spectrum.
For high-net-worth borrowers with complex income, bring two years of K-1s and partnership returns to pre-approval — Palm Beach jumbo lenders price aggressively for well-documented complex income.
Service Areas & Neighborhoods
Our Palm Beach Presence
Local Knowledge. Global Rates.
200 S Biscayne Blvd
Miami, FL 33131
Direct Line
877-976-5669Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Get Matched in 60 Seconds
Our AI Instant Advisor analyzes your situation — credit, loan amount, property type — and matches you to the right program. No credit pull. No obligation.
Get Your Numbers
Quick quote or detailed payment estimate — no credit pull
Quote Wizard
AI-Powered Rate Intelligence
Step 1: Loan Foundation
Mortgage Estimator
Principal & Interest Only
Common Questions About Construction Loan (Residential) in Palm Beach
CMRE typically requires a minimum FICO score of 620 for a residential construction loan.
The maximum LTV for our residential construction loans is 97%.
Funds are disbursed in stages as construction progresses. We require regular inspections and draw requests to ensure that funds are used appropriately and that the project stays on schedule.
Upon completion of construction, the construction loan is typically converted into a permanent mortgage. CMRE offers a variety of permanent mortgage options to choose from.
Requirements vary. CMRE offers options as low as 3% for qualified borrowers and cross-collateral options that use existing property equity.
Yes. CMRE offers 1-Year Tax Return (Freddie Mac), bank statement, P&L, and VOE-only programs for self-employed.
CMRE typically closes in 21-30 days. Pre-approval within 24 hours.
Depends on program. CMRE also offers DSCR and bank statement investment-specific programs.
The current national 30-year fixed rate is 6.00% (Freddie Mac PMMS). Construction Loan (Residential) rates in Palm Beach vary by loan amount, LTV, and credit profile — CMRE provides locked quotes within 24 hours of application.
CMRE typically closes Construction Loan (Residential) loans in Palm Beach within 21-30 days from application. The Palm Beach County market has seen home prices rise 1.1% year-over-year — having a fully underwritten approval before you write an offer is critical in this competitive environment. Our FL-licensed team coordinates title, escrow, and appraisal concurrently to minimize time-to-close.
All residential neighborhoods in Palm Beach and Palm Beach County qualify for Construction Loan (Residential) through CMRE. The current median sale price in Palm Beach County is $505,500, with homes averaging 87 days on market and prices up 1.1% year-over-year. Single-family homes, condos, townhomes, and 2-4 unit properties are eligible.
Yes. CMRE offers first-time homebuyer programs in Palm Beach including down payment assistance, 3% down conventional, and FHA 3.5% options. FL residents may also qualify for state-specific grants and bond programs.
Construction Loan (Residential) by Location
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Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
