Build with clarity, confidence, and a real plan in place.

Whether you’re designing your dream home or planning to build on land you already own, the very first step is getting pre-approved for a construction loan.

It’s not just about getting the green light — it’s about understanding your budget, knowing your options, and avoiding delays down the line.

👉 Here’s exactly how to get pre-approved for a construction loan — and what to expect from start to finish.

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✅ Step 1: Connect With a Construction-Friendly Lender

Not all mortgage lenders offer construction loans — and not all know how to handle them smoothly.

At PRMI, we specialize in construction financing and can help you:

• Understand your borrowing power
• Choose the right loan structure (one-time or two-time close)
• Get matched with builders and local resources if needed

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✅ Step 2: Review Your Credit & Income

While construction loans are flexible, they still require:

• A minimum credit score (usually 620+)
• Verified income and employment
• A stable financial profile

We’ll run your credit and review:

• Income documentation (W-2s, tax returns, or 1099s)
• Monthly debts and obligations
• Assets and reserves

💡 Even if you’re not “perfect on paper,” we’ll help structure a realistic path forward.

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✅ Step 3: Outline Your Budget and Down Payment

Construction loans are based on:

• The total cost to build (land + materials + labor)
• Your available funds for a down payment (typically 10–20%)
• Estimated reserves for taxes, insurance, and overages

We’ll help estimate your full loan amount and monthly payment based on the completed home value.

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✅ Step 4: Get Pre-Approval Letter

Once you’re approved, you’ll receive a pre-approval letter stating:

• Your approved construction loan amount
• Loan type (one-time or two-time close)
• Loan-to-value (LTV) and credit terms
• Timeline and expiration

This letter helps you:

• Make land offers with confidence
• Start conversations with builders
• Know what you can realistically build

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🧠 Why Pre-Approval Matters So Much

✅ Sets clear financial expectations
✅ Helps builders price out realistic plans
✅ Avoids delays later in underwriting
✅ Helps you move fast when the right lot or builder becomes available

It’s not just paperwork — it’s your roadmap to success.

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🏢 Why PRMI?

PRMI is a direct lender offering both:

• One-time close construction loans
• Two-time close and land + build options

We offer:

• Fast, builder-friendly pre-approvals
• In-house support from blueprint to final inspection
• Clear guidance on what you need (and what to expect)

We make the approval process smooth, so you can focus on the fun part — building.

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👇 Want to Get Pre-Approved for Your Build?

Let’s review your budget, timeline, and builder plans — and help you get pre-approved with confidence.