One-Time Close Construction Loans — also called construction-to-permanent loans — offer a streamlined way to finance building a home in New Mexico. Instead of taking a separate construction loan followed by a permanent mortgage, you complete one application and one closing that covers land purchase (if needed), construction costs, and long-term financing.
This approach simplifies the process, saves on closing costs, and avoids requalifying once construction is complete — ideal for buyers building custom homes in Albuquerque, Santa Fe, or rural acreage properties.
I work with New Mexico homebuilders and buyers to structure financing that aligns with construction timelines and long-term financial strategy.
A One-Time Close Construction Loan combines:
Land financing (optional)
Construction financing
Permanent mortgage
into a single loan and closing.
During construction, funds are disbursed in stages (draws) as work progresses. Once construction is finished, the loan automatically converts to a permanent mortgage — eliminating the need for a second approval or closing.
New Mexico’s market has strong demand for:
Custom homes on private land
High-desert properties and acreage
Luxury builds in Santa Fe and Albuquerque
Rural construction projects
Benefits include:
One application, one closing
Locked-in financing terms before construction
Predictable transition to permanent mortgage
Reduced fees and paperwork
Draw schedules aligned with construction progress
A typical One-Time Close Construction Loan in New Mexico includes:
Pre-approval and financial review
Builder evaluation and contract submission
Property appraisal based on plans and specifications
One-time loan closing
Draw disbursements as construction progresses
Automatic conversion to permanent mortgage upon completion
During construction, interest-only payments are typically required on funds drawn.
Many New Mexico buyers purchase land prior to construction. Land equity can often be used toward the loan, lowering cash-to-close requirements.
Unique factors in New Mexico construction financing:
Rural property utilities (well, septic, access)
High-desert building considerations
Custom architecture or adobe-style homes
County-specific permitting and inspections
Early planning ensures underwriting aligns with these variables.
Lenders require more detailed documentation than for a standard home loan:
Strong credit profile
Stable income and documented assets
A licensed general contractor or builder
Complete construction plans and budget
Project feasibility review and timeline
Advanced preparation prevents delays and surprises.
Construction loans require coordination among multiple parties:
Borrower
Builder
Lender
Appraisers and inspectors
I focus on:
Structuring financing upfront
Navigating builder and permitting requirements
Organizing documentation before underwriting
Managing draw schedules
Aligning construction financing with long-term mortgage planning
My goal is a smooth, predictable build from groundbreaking through move-in day.
If you plan to build in New Mexico, the first step is reviewing:
Land ownership and equity (if applicable)
Builder contracts and construction plans
Expected project budget and timeline
Overall financial profile
I’m here to support you every step of the way. If you’re ready to turn your home financing goals into your new reality, let’s work together.
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.
Who we are
Our website address is: https://loansbylehrman.com/
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