Construction Loans in South Patrick Shores, FL

If you own a lot near South Patrick Shores or have your eye on one, a construction loan can fund the build from foundation to final walkthrough. Lenders look closely at your plans, budget, builder and land before they commit, because the collateral does not fully exist yet. Below you will find how construction-to-permanent and construction-only loans differ and how to prepare a file that a Florida lender can review.

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Call to speak with a licensed loan officer about construction loans in South Patrick Shores. Programs vary by borrower, property and investor.

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New home building around South Patrick Shores

3,376Single-family units permitted in Brevard County (2025)

0%Homes built 2010 or later

$443,600Median home value

Brevard County issued permits for 3,376 new single-family housing units in 2025. About 0% of the homes in South Patrick Shores were built in 2010 or later.

One closing or two: choosing a loan structure

A construction-to-permanent loan, sometimes called a single-close or one-time close loan, covers both the build and the long-term mortgage under one set of closing documents. During construction you usually pay interest only on the funds drawn so far. Once the home is finished, the loan rolls into regular payments without a second closing.

A construction-only loan funds the build and must be paid off when the home is complete, usually by a separate permanent mortgage. That means two applications and two closings, but it can give you room to shop for the long-term loan later. Each path has tradeoffs, and programs vary by borrower, property and investor.

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Prefer to talk first? Call (888) 912-6746. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.

How draws, inspections and the builder fit together

Money moves only after work is verified. The lender holds the loan funds and pays them out according to a schedule written into your loan documents. An inspector visits at each milestone and reports what has been completed, and the draw is sized to match.

This protects you as well as the lender. You are less likely to pay for work that has not been done, and the builder has a clear path to getting paid. Because the builder plays such a central role, expect the lender to check licensing, insurance and track record. Change orders that add cost mid-build usually need lender sign-off and may require you to cover the difference.

Who this tends to fit

You prefer a single closing that covers construction and the permanent mortgage
You are interested in an FHA one-time close loan for new construction
You are replacing a teardown with a new home on the same site
You own a lot and want to build a custom home on it
You want to build a modular or factory-built home that is set on a permanent foundation

Local offices and Florida rules to know

Deed and mortgage recording: Brevard County Clerk of Court & Comptroller - Official Records. Your mortgage is recorded here after closing.

Florida recording costs: Documentary stamp tax on deeds and other documents that transfer an interest in Florida real property; documentary stamp tax on notes and recorded mortgages (written obligations to pay money); and nonrecurring intangible tax on mortgages - collected by the county clerk when the document is recorded. Your Loan Estimate lists the taxes that apply to your loan.

Land, plans and permits for building in South Patrick Shores

If you already own your lot, its value or equity may count toward your contribution, depending on the program. If you are buying land as part of the project, some loans can fold the purchase into the construction financing. Either way, the lender will want to see a survey, title work and confirmation that utilities and road access are available.

Plans and specifications support the appraisal, which values the home as it will be when finished. Local building permits, zoning approval and any septic or well permits must be in place before work begins. Gathering these early prevents delays that can push back your closing.

Before you call

A recent survey, plus any well, septic or utility information for the site
Status of building permits and zoning approvals
Proof of land ownership, a purchase contract for the lot or a payoff statement for any land loan
A proposed draw schedule tied to construction phases
Income, asset and credit documents for every borrower, plus a plan for cost overruns

Questions South Patrick Shores borrowers ask about construction loans

Does my builder need to be approved by the lender?

Most lenders review the builder before approving a construction loan. They commonly ask for a state or local license, general liability insurance, references and a history of completed projects. Some lenders keep a list of builders they have already reviewed. Owner-builder projects, where you act as your own general contractor, are restricted or not allowed under many programs, so ask early if you plan to manage the build yourself.

What is the difference between construction-to-permanent and construction-only loans?

A construction-to-permanent loan finances the build and then converts to a long-term mortgage after completion, all under a single closing. A construction-only loan covers just the build period and must be paid off when the home is finished, usually with a separate mortgage and a second closing. The one-close option offers simplicity, while the two-close option allows you to shop the permanent loan later.

Are there VA or FHA construction loan options?

Yes. Eligible veterans and service members may be able to use a VA construction loan, which requires a Certificate of Eligibility and typically a builder who is registered with VA. FHA also offers a one-time close construction loan for eligible borrowers building a primary residence. Not every lender offers these programs, and requirements vary, so ask whether they are available for your build.

Can I use land I already own toward the loan?

Often, yes. If you own your lot free and clear, the equity in the land may count toward what you contribute to the project, depending on the program and lender. If you still owe on the land, the existing loan is usually paid off as part of the construction financing. The lender will want documentation of ownership, a survey and title work showing the land is suitable for building.

Talk to a licensed loan officer

Get answers about construction loans for a home in or around South Patrick Shores. Subject to credit approval; programs vary.