Boca Raton’s new construction market is one of the most active and well-structured in Palm Beach County — and it operates across two very different contexts. In West Boca, GL Homes has built an empire of master-planned luxury communities that give buyers the ability to select a home design, customize finishes, and take delivery of a new residence in a resort-style gated environment. Boca Bridges set the standard with more than 500 homes across five collections. Lotus Palm sold out and established the contemporary luxury template. Lotus Edge — the newest GL Homes community near Glades Road and Lyons Road, with homes priced from $1.4 million to $3 million — is now the active-phase option for buyers who want new construction in West Boca at the highest current standard of design and amenity.
In East Boca, the construction market is fundamentally different. Desirable parcels along the Intracoastal Waterway and in established neighborhoods near Mizner Park do not come as empty lots — they come as older homes on prime land. Teardown-and-rebuild is the primary new construction path in East Boca: a buyer acquires a property, removes the existing structure, and commissions a custom estate to their specifications on a parcel whose location is its primary asset. This path is more complex to finance than a structured GL Homes transaction, and it requires a lender who can underwrite the construction draw structure alongside a permanent Jumbo or Super-Jumbo loan at a loan size commensurate with East Boca’s land values.
For both contexts, One-Time Close Construction financing offers the same core advantage: a single closing, a single rate commitment made before construction begins, and automatic conversion to the permanent mortgage when the home is complete — with no second closing, no second appraisal, and no rate risk accumulated over a 12- to 24-month build cycle.
Ryan Lehrman, NMLS #235295, structures One-Time Close Construction financing for buyers across Boca Raton’s full construction spectrum — from a GL Homes Lotus Edge purchase with custom upgrades to an estate teardown on a sought-after East Boca street.
A One-Time Close Construction Mortgage Loan is a single-transaction financing structure that covers both the construction phase and the permanent mortgage through one closing, one set of documents, and one rate commitment made before construction begins.
Phase 1 — Construction Draw Period: Following closing, funds are released to the builder in scheduled draws as construction milestones are completed and verified. During this phase, borrowers pay interest only on amounts disbursed — not on the full loan balance — which manages cash flow during a period when the buyer may be renting or carrying another property simultaneously.
Phase 2 — Conversion: When construction is complete and the municipality issues the certificate of occupancy, the loan automatically converts to the permanent mortgage at the rate and terms locked at the original closing. No second closing. No refinancing costs. No rate exposure from start of construction to move-in.
Phase 3 — Permanent Mortgage: The loan becomes a standard amortizing mortgage. Principal and interest payments begin on the converted balance, at the rate and structure — fixed or adjustable — selected at the original closing.
Key Features of Boca Raton One-Time Close Construction Loans:
Single closing, single rate lock before ground is broken
Interest-only payments during the construction draw period on disbursed amounts only
Loan amounts calibrated to Boca Raton's construction cost realities — from $900,000 for West Boca structured builder homes to $5 million and above for East Boca custom estate projects
Jumbo and Super-Jumbo One-Time Close programs for Boca Raton's upper-tier construction market
Physician One-Time Close for healthcare professionals building in Palm Beach County
Flexible builder approval — works with GL Homes' structured builder process and with independent custom builders for East Boca teardown projects
For buyers constructing primary residences in Palm Beach County communities where the projected completed value falls within the conventional conforming limit — typically in West Boca entry communities or areas outside Boca’s premium zip codes where construction costs and land values support a completed value below $832,750. This program serves a narrower segment of Boca’s actual construction market given the city’s price structure, but it is available for buyers working within conventional parameters.
The appropriate program for virtually every meaningful new construction project in Boca Raton. A mid-range Lotus Edge home at $1.8 million requires Jumbo One-Time Close financing. A custom estate in Central Boca with a completed value of $2.5 million requires Jumbo One-Time Close. Boca Bridges upper-collection homes in the $2 million to $2.5 million range require Jumbo One-Time Close. Even modest East Boca teardown projects — where land acquisition alone can run $700,000 to $1.2 million before a foundation is poured — typically produce completed values well above the Jumbo threshold. This program is the standard One-Time Close product for Boca Raton’s active construction market.
For East Boca estate builds and teardown-and-rebuild projects on Intracoastal or canal parcels where land acquisition and construction cost combine to push the project well above $3 million. A custom estate on an Intracoastal lot in East Boca — acquiring the existing property, demolishing it, and commissioning a new build — can easily reach $4 million to $8 million in total project cost. Super-Jumbo One-Time Close combines portfolio lending flexibility with a construction draw structure, accommodating asset-based and alternative income documentation alongside build timelines of 18 to 24 months for complex custom projects.
For physicians arriving in Boca Raton who want to build in a GL Homes community or on a custom site — and who have a signed Baptist Health Boca Raton Regional Hospital contract, a private practice agreement, or an FAU Research Park health sector position as their income foundation. Physician One-Time Close extends the physician program’s contract-based income verification, IBR student loan treatment, and no-PMI structure fully into the construction loan context. A physician can sign an employment contract, select a Lotus Edge home, and close on the construction loan before their first day of work — with a permanent rate locked from day one.
Lotus Edge — GL Homes' Newest West Boca Community
Located near the intersection of Glades Road and Lyons Road in West Boca Raton, Lotus Edge is GL Homes' most current and most amenity-complete community to date. The development features fully contemporary architecture across multiple home collections, with floor plans and pricing ranging from $1.4 million to $3 million. The clubhouse at Lotus Edge is described by GL Homes as the most impressive in the Lotus brand's history — a meaningful claim given that Boca Bridges and Lotus Palm each established their own benchmarks. 24/7 manned gate security, resort-style pool complex, tennis and pickleball courts, and indoor sports facilities complete the community offering. Every financed purchase at Lotus Edge requires Jumbo One-Time Close or Jumbo purchase financing.
Boca Bridges — Established and Resale-Active
With construction largely complete, Boca Bridges has transitioned from a primary new construction community to a mix of final developer units and active resale. Floor plans ranged from 2,561 to 8,101 square feet across five collections, with completed homes now trading in the $900,000 to $2.5 million range. Buyers who missed the original construction window can still access the community through resale — with Jumbo financing required across the price range.
Royal Palm Polo — Estate Scale in West Boca
A gated luxury community featuring Mediterranean-inspired estate homes on larger homesites than the GL Homes communities, Royal Palm Polo offers single-family residences in the $1.5 million to $3.5 million range with a more traditional architectural character. New and resale opportunities exist, and the community's generous lot sizes appeal to buyers who prioritize outdoor living and privacy alongside amenity access.
East Boca Teardown-and-Rebuild Market
The Intracoastal corridor, Camino Gardens, and established East Boca neighborhoods near Mizner Park and the Palmetto Park Road corridor see consistent teardown-and-rebuild activity. Buyers acquire older or smaller homes on prime parcels — particularly those with water views, Intracoastal access, or proximity to the beach — and commission custom estates that reflect current construction standards and personal specifications. Land-only parcels are rarely listed in these neighborhoods; teardown acquisition is the standard path to a buildable lot. Total project costs typically range from $2 million to $8 million depending on parcel size, water access, and construction specifications.
Downtown Boca Mixed-Use and Boutique Residential
The area surrounding Mizner Park and the Boca Raton downtown corridor is seeing ongoing mixed-use redevelopment, including the Office Depot campus at 6600 North Military Trail — a 624,230-square-foot headquarters undergoing a $104 million redevelopment beginning in 2025, which will create four new buildings with retail and dining alongside corporate office space. Boutique residential projects in the downtown core represent the urban construction tier, with new condominium completions in the Alina Residences and potential future residential components of the mixed-use redevelopment pipeline.
FAU Research Park Corridor — North Boca
The growth of the Research Park at Florida Atlantic University as a health technology and biotech hub is beginning to attract residential development interest in North Boca adjacent communities, as incoming tech and health sector professionals seek new construction close to their workplace. This corridor is an emerging — rather than established — new construction market, but it represents a meaningful future demand driver for Boca Raton residential building.
One-Time Close programs for Boca Raton's full construction range — GL Homes structured communities to custom East Boca estate builds
Jumbo and Super-Jumbo One-Time Close for Boca's upper-tier construction market
Physician One-Time Close for healthcare professionals building in Palm Beach County concurrent with Baptist Health employment
Familiarity with GL Homes' builder approval and contract process, and with the independent custom builders active in East Boca teardown projects
Permanent rate locked before construction begins — no rate risk over Boca Raton's 12- to 18-month typical build cycle
Ryan Lehrman, NMLS #235295
Property and Builder: The property must be a primary residence, second home, or investment property where the borrower owns or is acquiring the lot. The builder must meet lender licensing, insurance, and contract term requirements. GL Homes' structured community process is well-suited to lender builder approval. Independent custom builders working in East Boca teardown projects — firms like Bloomfield Construction, Kenco Communities, and Terence Cudmore Builders — typically meet standard lender requirements with proper documentation.
BIncome and Credit: Documentation requirements align with the permanent mortgage program. W-2 documentation for salaried borrowers. Tax returns and business financials for self-employed and partnership income. Bank statement programs available. Physician contract documentation for healthcare professionals. Credit minimums are consistent with the permanent program tier — 700-plus for conventional and Jumbo programs, 720-plus for Super-Jumbo.
Loan-to-Value and Down Payment: Calculated on the completed appraised value using construction plans and specifications, not the raw lot cost or construction contract alone. Down payment requirements align with the permanent program tier — flexible minimums for physician programs, 10% to 20% for standard Jumbo, 20% to 30% for Super-Jumbo.
Construction Timeline: Standard construction terms are 12 months, with extensions available for complex projects. Boca Raton's permitting process — particularly for custom East Boca estates that require architectural review and environmental assessment — adds pre-construction lead time that should be factored into realistic project planning from the outset.
Consultation and Feasibility — A detailed conversation about the community or parcel, the builder relationship, the projected construction timeline, and the permanent loan requirements. For GL Homes purchases, this conversation happens before or concurrent with the builder contract signing. For East Boca custom builds, it precedes the land acquisition.
Pre-Approval and Builder Review — Ryan issues a construction loan pre-approval based on your financial profile and confirms builder eligibility. For GL Homes communities, this positions you for the builder's sales process with financing already addressed. For custom builders, it establishes the parameters before construction contract execution.
Plans, Specifications, and Appraisal — A certified appraiser reviews the construction plans and specifications alongside comparable completed properties to establish the "subject to completion" appraised value. In East Boca, the appraiser must be experienced in teardown-and-rebuild comparable sales — the subject-to-completion value in these transactions requires neighborhood-specific expertise.
Closing and Draw Schedule — One closing, one rate commitment, one set of fees. The draw schedule is established with the builder and construction begins. Ryan manages draw inspection coordination and fund releases throughout the construction period.
Certificate of Occupancy and Conversion — The relevant Boca Raton or Palm Beach County municipality issues the certificate of occupancy upon construction completion. The loan converts automatically to the permanent mortgage. Regular monthly payments begin.
A traditional construction loan is a short-term, often variable-rate product that must be refinanced into a permanent mortgage after construction is complete. In Boca Raton's GL Homes communities, build cycles run 10 to 14 months from contract to delivery. If rates rise during that period, a traditional construction borrower faces a higher permanent rate than they anticipated when they signed the builder contract. A One-Time Close locks the permanent rate at the original closing — before construction begins — so rate movement during the build cycle is irrelevant to the final monthly payment. One set of closing costs rather than two is the additional financial benefit.
Yes. A physician with a signed Baptist Health employment contract can use a Physician One-Time Close Construction loan to finance a new home in Lotus Edge or another GL Homes community concurrent with their employment start. Contract-based income verification means you do not need a paycheck history. IBR student loan treatment applies in the construction context as in any physician loan. No PMI applies regardless of down payment. The permanent rate is locked at the original closing, and conversion happens automatically when GL Homes delivers the completed home. Many physician buyers in Boca Raton use this approach specifically because it eliminates the need to find temporary housing between arrival and home completion.
The process begins with acquisition of the existing property — financed through a standard Jumbo purchase loan or purchased with cash. Once the existing structure is demolished and the lot is cleared, the One-Time Close Construction loan closes on the lot value and the construction plans. Draw releases fund the builder as construction milestones are verified. The primary underwriting complexity in East Boca teardown projects is the appraisal — establishing the "subject to completion" value for a custom estate on a parcel where comparable sales may be limited requires an experienced appraiser and a detailed set of plans and specifications. Ryan coordinates the appraisal engagement to ensure the appraiser's qualifications match the neighborhood.
Yes. VA One-Time Close Construction loans are available to eligible veterans and active-duty service members purchasing or building in Palm Beach County. The VA program's signature benefit — zero down payment — extends into the construction context, making it one of the most powerful home-building financing structures available for qualifying buyers. Veterans building primary residences in Boca Raton should confirm VA eligibility at the start of the consultation process. Palm Beach County has a veteran population that is well-served by VA programs, and the zero-down construction loan is one of the least-known and most valuable of those options.
Building your new home in Boca Raton starts here. Let’s talk through your builder, your site, and your timeline.
Originally from Harrisburg, Pennsylvania, I moved to Phoenix to attend Arizona State University and have proudly called Phoenix home ever since.
My journey into the mortgage industry began with a friend’s encouragement, who saw how my energy and people-first mindset could make a difference. He was right — I found my calling.
I’ve always embraced what makes me different. With ADHD as my secret weapon, I thrive in fast-paced, detail-heavy environments. I’ve built my career on clear communication, creative problem-solving, and putting clients first, always.
Outside of work, my greatest motivation is my wife and three amazing kids. I’d be honored to help guide you through your lending journey with care, clarity, and commitment.
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