Rio Rancho is the most active new construction market in New Mexico — and it is not particularly close. The city’s master-planned development model, its abundant undeveloped mesa land, its infrastructure investment in roads and utilities, and its sustained population growth have attracted and retained more active production and semi-custom builders than any other New Mexico city. The numbers reflect it: Lomas Encantadas alone — the master-planned community in north Rio Rancho near Highway 550 — encompasses multiple simultaneous active communities from Hakes Brothers (Lomas Encantadas Estates at $540K–$671K, Lomas Encantadas Vistas at $360K–$445K, and Lomas Encantadas Montreal), D.R. Horton ($410K–$546K), Abrazo Homes (Moderno at Lomas Encantadas, low $300K–low $400K), and Pulte Homes. Outside Lomas Encantadas, Twilight Homes builds in five Rio Rancho communities — Mariposa, Lomas Encantadas, Mountain Hawk, Tierra del Oro, and the Esplanade — with homes that are New Mexico Green Build Silver Certified. Pulte and Centex are active in Los Diamantes and Rainbow Canyon. Richmond American builds in Seasons at Monarch.
The case for One-Time Close Construction financing in Rio Rancho is the case for the city’s market itself. Buyers come to Rio Rancho because they want a new home — not the oldest available inventory from 15 years ago, but a home built to current energy codes, with current layouts, in a community that is still being shaped rather than fully built out. A One-Time Close Construction loan is the financing instrument that matches that buying intent: it combines the construction period funding and the permanent mortgage in a single closing with a single rate lock. The builder gets funded. The buyer is protected from rate changes during the build. And at completion, the loan converts automatically to a permanent mortgage — no second closing, no requalification, no refinance risk. For Intel employees purchasing in the community across the street from where they work, for UNM SRMC physicians building in Mariposa with Sandia Mountain trail access, and for Albuquerque-metro professionals choosing Rio Rancho for space and value, this is the program that makes the construction choice clean. I’m Ryan Lehrman, NMLS #235295.
A One-Time Close Construction Mortgage Loan combines the financing for the construction period and the permanent mortgage into a single loan with a single closing.
Phase 1 — Construction: The lender funds draws to the builder as milestones are completed. The borrower pays interest only on disbursed funds — not the full loan amount.
Phase 2 — Modification: At construction completion and certificate of occupancy issuance by the City of Rio Rancho, the loan automatically modifies from construction financing to the permanent mortgage. No second closing, no requalification, no new appraisal.
Phase 3 — Permanent Mortgage: Standard principal and interest payments begin on the terms locked at the original closing.
Key Features:
Single closing — one set of closing costs, one title insurance policy
Rate locked at the original closing — protected through the entire build
Interest-only payments on disbursed funds during construction
Automatic conversion to permanent financing at completion
Available as conventional, Jumbo, and Physician Construction programs
Build timelines typically 6–14 months for production builders; 12–18 months for semi-custom and custom
Available for primary residences and qualifying second homes
Lot purchase and construction financing combined in a single transaction where applicable
For buyers building in Lomas Encantadas Vistas, Lomas Encantadas Montreal, Moderno at Lomas Encantadas, Rainbow Canyon, Seasons at Monarch, Tierra del Oro, Mountain Hawk, and other Rio Rancho communities where the completed home value falls within the conforming threshold. This is the program tier that serves the largest share of Rio Rancho’s new construction market — buyers in the $300,000 to $600,000 range choosing from Rio Rancho’s widest selection of active communities.
For buyers building in Lomas Encantadas Estates ($540K–$671K new construction), Mariposa upper-tier custom sites, and other Rio Rancho locations where the completed home value exceeds the conforming limit. The Jumbo One-Time Close provides the same single-close, rate-locked structure at higher loan amounts — critical for upper-tier Rio Rancho builds where the construction timeline may span two seasons and rate uncertainty would otherwise be significant.
For UNM SRMC physicians and providers who want to build in Rio Rancho. Physician loan program features — contract-based income documentation, no PMI, favorable student loan treatment — combined with the construction-to-permanent format. Available at standard and Jumbo amounts. For physicians joining SRMC with a specific start date who want a new home in Lomas Encantadas or Mariposa, this program allows the build to begin around the same time as their employment, with the permanent mortgage in place by the time construction completes.
Lomas Encantadas — North Rio Rancho's Master-Planned Corridor
The single most active new construction area in New Mexico by community count and builder diversity. Located in north Rio Rancho near Highway 550 and Interstate 25, Lomas Encantadas offers seamless Albuquerque access while maintaining the spacious suburban character Rio Rancho buyers seek. Amenities include The Block at Enchanted Hills (a new shopping and entertainment district with dining, retail, and community spaces), The HUB community center (library, indoor pickleball courts, fitness programs), Santa Ana Golf Club, parks, and walking trails. Active communities:
Lomas Encantadas Estates by Hakes Brothers — 28 homes, $540K–$671K, 2,374–3,012 sq ft, Tuscan and Mediterranean elevations, Sandia Mountain views, luxury finishes
Lomas Encantadas Vistas by Hakes Brothers — $360K–$445K, 1,501–2,440 sq ft, single-story and two-story options
Lomas Encantadas Montreal by Hakes Brothers — modern living with Sandia Mountain views, convenient north Rio Rancho location
Lomas Encantadas by D.R. Horton — 57 homes, $410K–$546K, smart home technology, energy-efficient designs
Moderno at Lomas Encantadas by Abrazo Homes — low $300K–low $400K, attainable new construction within the Lomas Encantadas community
Lomas Encantadas by Pulte Homes — high $300K–mid $600K, full Pulte production line
Mariposa — Northwest Rio Rancho's Signature Community
The prestige address in Rio Rancho for buyers who want trail access, mountain views, and a community character that reflects the natural terrain. Builders active in Mariposa include Twilight Homes (New Mexico Green Build Silver Certified) alongside other production and semi-custom options. Mariposa's hiking and mountain biking trail system is one of the most developed in any New Mexico master-planned community — an amenity that draws outdoor-oriented buyers from Albuquerque's North Valley and Northeast Heights. New construction in Mariposa ranges from the mid-$400,000s to custom builds at the top of the Rio Rancho market.
Mountain Hawk, Tierra del Oro, and the Esplanade — Twilight Homes Communities
Twilight Homes is active across five Rio Rancho communities, delivering New Mexico Green Build Silver Certified homes with award-winning floor plans. Mountain Hawk, Tierra del Oro, and the Esplanade represent communities across different price points and locations within the city, providing additional inventory for buyers whose first choice community has limited availability.
Los Diamantes — Pulte and Centexr
Active production communities in Rio Rancho's established corridor, delivering homes from the low $400K range through the mid-$600K range for buyers who want Pulte and Centex production quality in a fully developed community infrastructure.
Seasons at Monarch — Richmond American
Richmond American's active Rio Rancho community, delivering homes from the low $400K to high $500K range, with the builder's standard energy efficiency and warranty programs.
Rio Rancho's most active builder roster confirmed eligible upfront — Hakes Brothers, Pulte, Centex, Twilight Homes, D.R. Horton, Abrazo, Richmond American
Physician One-Time Close for UNM SRMC providers building in Lomas Encantadas and Mariposa
Lomas Encantadas Estates Jumbo One-Time Close — rate locked at the start, no refinance risk through the build
Intel employee new construction financing expertise — RSU documentation and variable compensation handled correctly from application
New Mexico Green Build Silver Certified construction (Twilight Homes) — energy-efficient build specifications accommodated within the program structure
Rate locked at the original closing — the most important feature for buyers in Rio Rancho's active build environment
Single close — one set of costs, no requalification at completion
Ryan Lehrman, NMLS #235295, personally engaged from initial consultation through permanent conversion
Borrower Qualifications: Standard One-Time Close: 620–640 minimum credit score. Jumbo One-Time Close: 700+ minimum. Physician Construction: 700+ minimum with eligible credential. Income documentation follows the applicable program type — W-2 for standard borrowers, Intel compensation package documentation for technology sector employees, contract-based documentation for physicians.
Builder requirements: The builder must be licensed in New Mexico, carry general liability and workers' compensation insurance, and provide a fixed-price construction contract. All major Rio Rancho builders — Hakes Brothers, Pulte, Centex, Twilight Homes, D.R. Horton, Abrazo Homes, Richmond American — are established New Mexico builders whose eligibility and contract formats are confirmed at the start of the process. For private custom builders, eligibility is confirmed before any construction contract is signed.
Property and Lot Requirements: Primary residence or qualifying second home. Lot purchase can be combined with construction financing in a single transaction. In Lomas Encantadas and Mariposa, community-specific lot covenants and builder requirements are addressed during the pre-approval phase.
Construction Timeline: Production builders in Rio Rancho typically deliver in 6 to 10 months from contract. Semi-custom and custom builds run 12 to 18 months. Program structures accommodate both timelines.
Consultation — Review the community, builder, floor plan or custom plan, completed value estimate, and timeline. Confirm builder eligibility and identify the right program tier — standard, Jumbo, or Physician — before any contracts are signed.
Pre-approval and program setup — Full qualification review, rate lock, and program documentation. For Intel employees, the compensation documentation approach is established at this stage.
Closing — The loan closes on the lot and the construction contract simultaneously. Rate is locked. The builder begins construction immediately after closing.
Construction draws — Milestones funded as the build progresses: foundation, framing, mechanicals, insulation and drywall, finish work. Draw inspections coordinated through the lender. Rio Rancho's production builders have streamlined draw request processes that align with standard lender schedules.
Permanent conversion— Certificate of occupancy issued by the City of Rio Rancho. Loan modifies automatically to permanent mortgage terms. No second closing, no requalification, no new appraisal. Move in.
All major Rio Rancho production builders — Hakes Brothers, Pulte Homes, Centex, Twilight Homes, D.R. Horton, Abrazo Homes, and Richmond American — are established New Mexico builders whose licensing, insurance, and contract formats are confirmed at the start of the process. Builder eligibility is addressed in the initial consultation, before any purchase agreement or construction contract is signed. For buyers considering a semi-custom or custom builder in Mariposa or on a private lot in Sandoval County, the builder qualification process takes a few additional days but is straightforward for any licensed New Mexico contractor with appropriate insurance and a willingness to provide a fixed-price contract.
Yes. One-Time Close Construction financing is available for Intel employees building in Lomas Encantadas or any other Rio Rancho community. The income documentation approach for Intel employees — base salary, performance bonus history, and RSU vesting schedules — is established during the pre-approval process to ensure the loan is structured correctly from the start. For Intel engineers who want the Lomas Encantadas Estates tier ($540K–$671K), the Jumbo One-Time Close is the relevant program depending on down payment and loan amount. The rate is locked at the original closing, protecting against rate changes through the typical 6 to 10 month Hakes Brothers production timeline.
Yes. The Physician One-Time Close Construction program combines physician loan features — no PMI, contract-based income documentation, favorable student loan treatment — with the construction-to-permanent format. For physicians joining UNM SRMC who want to build in Mariposa rather than purchase from existing resale inventory, this program allows construction to begin with a rate locked at closing, income documented through the SRMC employment agreement, and the permanent mortgage in place automatically at project completion. Available at standard amounts for most Mariposa builds and at Jumbo amounts for upper-tier custom builds that exceed $832,750. Twilight Homes' New Mexico Green Build Silver Certified communities in Mariposa are compatible with this program structure.
Production builders in Rio Rancho — Hakes Brothers, Pulte, Twilight, D.R. Horton — have generally managed construction timelines reliably in recent years, with most production builds completing within 10 to 12 months of contract. For program timeline flexibility, One-Time Close programs include extension provisions that cover reasonable schedule overruns, and the rate lock secured at closing protects against rate increases during any extension period. For buyers concerned about timeline risk, semi-custom and custom builds benefit from 18-month program structures that build in schedule flexibility from the start. The specific extension terms are reviewed and confirmed during initial program setup.
Building your new home in Rio Rancho 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.
Who we are
Our website address is: https://loansbylehrman.com/
Embedded content from other websites
Articles on this site may include embedded content (e.g. videos, images, articles, etc.). Embedded content from other websites behaves in the exact same way as if the visitor has visited the other website.
These websites may collect data about you, use cookies, embed additional third-party tracking, and monitor your interaction with that embedded content, including tracking your interaction with the embedded content if you have an account and are logged in to that website.
SMS Privacy
I respect your privacy. I will not share or use your mobile number for any other purpose. I will only use information you provide to transmit text messages. Nonetheless, I reserve the right at all times to disclose any information as necessary to satisfy any law, regulation or governmental request, to avoid liability, or to protect my rights or property. When you complete forms online or otherwise provide me information in connection with the Service, you agree to provide accurate, complete and true information. You agree not to use a false or misleading name or a name that you are not authorized to use. If I, in my sole discretion, believe that any such information is untrue, inaccurate or incomplete, I may refuse you access to the Service and pursue any appropriate legal remedies.
Analytics tracking
Our website uses analytics tools such as Google Analytics to better understand how visitors interact with our site. These tools collect data through cookies and similar technologies, including information about on-site activity and, in some cases, IP addresses. We use this data to improve user experience, monitor performance, and track conversions. Visitors who prefer not to be tracked can opt out by using the Google Analytics opt-out browser add-on or other available opt-out methods.
