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finance your dream home

Construction Home Loan

Finance each step of building your dream home from lot acquisition to construction to a permanent mortgage.

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Why WSFS Mortgage?

World-class service, local decision-making power and a range of mortgage options to achieve your goals.

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Personalized approach

Legendary service to help you navigate the process.

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Flexible programs

Take advantage of lower rates at different stages of building your home.

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Nationwide lending

Construction home loans for primary homes and secondary residences in all 50 states.

Finance Your Dream Home in 3 Easy Steps

Construction home mortgages are available for primary and secondary residences in all 50 states.

Step 1: Lot acquisition

Fixed and variable rates available,[1] finance up to 70% of the purchase price up to $500,000.

Step 2: Construction

Fixed rate[2] financing up to 80% of the “as completed value”[3] up to $1,500,000.

Step 3: Permanent mortgage

Fixed/variable rates, financing up to 80% of “as completed” appraised value and rate lock.

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FAQs

A construction home loan is a type of loan that is designed to help you finance the construction of a custom-built home. It allows you to borrow money to pay for the costs of acquiring the lot, building the home and securing a permanent mortgage after it is built.

One of the main benefits of a construction home loan is that it allows you to build or renovate a home that meets your specific needs and preferences. Additionally, because the loan is designed for each step of the process, you may be able to get better interest rates and terms than you would with a traditional mortgage.

The amount that you can borrow with a construction home loan will depend on a variety of factors, including your income, credit score and the value of the property you are building. WSFS Mortgage offers a variety of construction home loan options to help you find the right loan for your needs. Contact a mortgage specialist to discuss your specific needs.

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Meet the WSFS Mortgage Team

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Questions?

We’re here to help. Complete the form below to be contacted by a member of the WSFS Mortgage team.

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Disclosures

1 Fixed rate lot loan available for a 1-year, 2-year and 3-year term with a balloon payment in month 12, 24 and 36, respectively. Variable rate interest-only lot loan available for a 2-year term with a balloon payment in month 24. No prepayment penalty fees apply for the lot loan, construction loan or permanent mortgage loan. WSFS Construction Loan closing costs include a 1% origination fee, underwriting fee, construction monitoring fee, appraisal fee, draw fees, title insurance, government recording fees and other fees may apply.

2 WSFS Construction Loan closing costs include a 1% origination fee, underwriting fee, construction monitoring fee, appraisal fee, draw fees, title insurance, government recording fees and other fees may apply.

3 20% borrower contribution required for loan amounts up to $1,000,000. For loan amounts $1,000,001 to $1,500,000, finance up to 75% of “as completed” appraised value with 25% borrower contribution.

No prepayment penalty fees apply for the lot loan, construction loan or permanent mortgage loan. The monthly obligation will be determined by the total loan amount at the time of closing and the term and interest rate of the loan. Borrowers must meet underwriting guidelines and are subject to credit review and approval. Please contact your WSFS Mortgage Loan Officer for more details.

Offer subject to credit approval.