Construction Financing

Building a home brings a whole new set of decisions, excitement, and frustration. Preferred Rate has certified Builder Pros that have specific construction financing training and expertise that provide peace of mind. Whether it’s their first new build or not, we can get the financing in place to make your client’s dream home a reality.

Product highlights

One-time close construction-to-permanent financing
Up to 95% LTV financing on Conventional
Up to 100% LTV financing on VA
Up to 96.5% LTV financing on FHA
660 minimum credit score
50% maximum debt-to-income ratio
Single-family properties and manufactured homes
Up to 12 months to build
Conventional, FHA, and VA options available
Permanent financing based on final appraised value
30-, 20-, 15-, and 10-year fixed-rate options available

Borrower advantages

Ability to build dream home on a piece of property with one loan
Streamlined approvals and draws
Dedicated construction team for quick processing
SecureLockTM available with up to 365-day rate lock
Don’t need to sell home to qualify
Owned land can be used for down payment
Manufactured homes allowed

Realtor advantages

Expands accessibility for buyers wishing to purchase property and build their dream home
Allows for agents to sell properties in builder projects and offer a one-time close option
Preferred Rate’s Loan Officers complete a three part education course, to ensure clients are in good hands

What Clients Say About Us

“Daniel was great! Very efficient and very friendly. He always got back to us in a timely manner and always called us to explain things rather than just texting. Very personable guy! Very quick as well! We closed 2 weeks sooner than expected. I cannot say enough nice things about preferred rate, I definitely recommend them to everyone!”

Megan H

“I cannot put into words how amazing Dan and his team were during this whole process. They consistently went above and beyond to ensure I was fully taken care of. Not working with a realtor was a bad call on my part, but Dan was there every step; and a few bumps, offering unbiased advice and making sure I was taken care of. This momma and her girl tribe finally have a place of their own to call home; I am so thankful for Dan and his team!”

Savannah C

“This is my second home purchase using Dan. He is great to work with, he explains everything and is always there to answer any questions.

Update: When rates dropped early October 2025, Dan reached out to let me know and we knocked the refinance quickly. Dan is also always quick to answer questions no matter time or day of the week. No one else I’d rather do business with.”

Nate W

“We don’t have enough good things to say about Bihn Group! We tried to buy a house years ago and were consistently disappointed, houses sold out from under us, etc. so we gave up! We reached out to Dan this time around and he was so efficient and kind about everything! He answered all of our questions with honesty and we were so lucky to find our dream house as quickly as we did. Our son hasn’t stopped running around in our yard since we moved in! Thank you, Dan and Bihn Group for helping us achieve this goal in life!”

Taylor S

“Thank you for making a dream a reality. For years my husband, kids and I would talk about the perfect house we would have one day. It’s easy to find a house but difficult to get the keys and even more difficult to tell your kids this one didn’t work out. Dan, thank you for directing and clearing the path to our new home. We are extremely grateful!”

The McCulley’s