Fund a ground-up build or major renovation with construction financing structured around your draw schedule. Compare construction loan offers from multiple lenders.
Check My Eligibility →Construction financing is a short-term loan that funds a building project through staged draws as work completes, rather than one lump sum. It covers land, materials, labor and permits, and is commonly structured as a construction-to-permanent loan that converts to a long-term mortgage on completion.
Borrowers include commercial developers, builders, contractors and business owners renovating their own facilities. Through BidMyCapital you can compare commercial construction financing from multiple lenders.
Money is released at milestones — foundation, framing, completion — as inspected.
The short-term loan converts to a permanent mortgage when the build finishes.
Permanent financing, refinance or sale settles the construction debt.
Construction loans carry higher rates than permanent mortgages — typically prime + a premium, or 8% to 15% for commercial and hard-money builds. Expect origination fees and draw-based interest, which only accrues on funds actually disbursed.
Architectural plans, permits and a realistic budget and timeline.
Lenders require an experienced, licensed contractor.
Typically 20% to 30% of the project cost.
A plan to repay or refinance when construction completes.
Funds are released in stages as construction milestones are met and inspected, so you only pay interest on what has been drawn.
A single loan that funds the build through draws and then automatically converts to a permanent mortgage when construction is complete, avoiding a second closing.
Yes. Established contractors and builders can qualify using their track record, project plans and take-out financing.
A short-term, asset-based construction loan priced for speed and flexibility — typically 10% to 15%+ with 12 to 24 month terms.
Most construction lenders want 20% to 30% equity in the project before funding.