New Construction Loans

From Dirt to Doors, Smarter Funding for New Builds

When you're building from the ground up, the wrong lender can stall your entire project. Banks drag their feet. Traditional draws don’t match your timeline. And most lenders don’t know the difference between a spec build and a shovel-ready duplex.

At First Lending Network, we match Florida builders and small-scale developers with lenders who actually get construction. Whether you’re putting up a single-family rental in Lutz or a 4-unit townhouse in South St. Pete, we’ll help you structure the deal and secure financing that supports the full build cycle, not just the first draw.

Loan Programs

What Is a New Construction Loan?

A new construction loan is short-term financing used to cover the cost of building a residential property. Funds are typically released in stages, known as draws, based on project milestones like slab, framing, and CO. 

But here’s where it gets tricky:

Some lenders only fund vertical, not land.
Others require fully approved plans and permits before issuing a term sheet.
And almost none will explain what happens if your GC hits delays. 

That’s where we come in. 

We help you structure the deal up front: 

Lot + build or vertical only 
Interest reserve calculations 
Draw schedules and GC requirements
Exit strategy planning (refi, DSCR takeout, or flip)

A Typical Scenario

Property: 4-unit townhouse development in Tampa 
Land cost: $180,000 
Build budget: $760,000
Total project cost: $940,000 
As-completed value (ARV): $1.3M 
Loan type: Land + construction
Loan amount: 85% LTC = $799,000 
Interest reserve: Built into the loan
Exit: DSCR refinance after lease-up

Result: Loan closed. Groundbreaking in 30 days. No income docs required. 

Who New Construction Loans Are For

Small-scale developers building 1–20 units
Investors planning a build-to-rent project
Contractors building spec homes or infill housing
Builders needing land + vertical financing
BRRRR investors developing their own inventor

Property Types We Can Finance

Single-family homes
Duplexes, triplexes, fourplexes
Townhomes and infill subdivisions
Build-to-rent communities
Small multifamily (up to 20 units)
New Construction Loan

Why Use First Lending Network?

Most lenders are guessing when it comes to construction, or worse, trying to apply a fix-and-flip playbook to a new build. We’ve worked with developers from Sarasota to New Port Richey, and we know what it takes to get a shovel in the ground.

We source from our network of private and non-bank construction lenders
We help you compare terms: LTC, ARV-based vs. cost-based, interest reserves
We explain draw process details and lender quirks before you sign
We align loan structure with your exit strategy, whether that’s a DSCR refi or a flip sale
Talk with an Expert

GC Building a New Single-Family Rental in St. Petersburg

A licensed General Contractor is purchasing a vacant lot in St. Petersburg with plans to build a 3-bed, 1-bath single-family home as a rental property. He needs financing for both the land acquisition and the construction. As a self-employed contractor, he does not have W-2 income.

We paired him with a lender who underwrites based on project feasibility and ARV comps, not his personal tax returns. He locked in 12-month funding, with the first draw released at closing to purchase the land. Construction underway.

New Contruction Loan

Florida-Specific Construction Insights

Building in Florida isn’t like building in other states. You’ve got: 
Flood Zones
Wind Migration Requirements
Insurance Volatility
And local permitting delays that can kill a deal if your lender is inflexible. 

We work with construction lenders who:

Understand Florida-specific risks and timelines
Fund in coastal and high-growth areas others avoid 
Allow builder-managed or investor-managed projects 
Offer staged draws that match real build timelines 

Whether you’re breaking ground in Pinellas, Pasco, Polk, or Hillsborough counties, we’ve helped fund deals there.

New Construction Loan

Want to See How Other Investors Are Structuring New Builds?

Check out our in-depth Small-Scale Developer Scenario for real-world strategies, common mistakes, and what to watch out for when funding new construction. 

Read – How to for Small Developers
New Construction Loan

Ready to Talk Through Your Project?

We’ll walk your deal from land to lease-up — and help you choose the right lender at every stage. Book a call to discuss your project, or submit your loan request now to get matched. 

Book a Call
Start Loan Request