The construction-loan side, explained plainly.

About 40% of our clients build cash, or bridge from an existing property and refinance at completion. The rest use a construction loan. There is no wrong answer — the draw schedule below works the same either way; a cash build simply funds the draws from your account instead of the lender's.

It combines your construction financing and your permanent mortgage into a single closing. You lock terms once, draw against the loan through the build, and it converts to a standard 15- or 30-year mortgage at your certificate of occupancy — no second closing, no second set of fees. For an 18-to-24-month Wasatch Back build, the reduced re-closing risk is usually worth the slightly higher rate.

Portfolio construction lenders in the Park City market typically want 20–30% of total project cost (land + hard costs + soft costs) as equity. If you already own the lot free and clear, that land equity usually counts toward the requirement — many clients find their lot covers most or all of it.

One-time-close products let you lock at the initial closing, before construction starts, with extended-lock options that carry the rate through a 12-to-24-month build. We introduce you to lenders early — at Design Development, around month seven — so the lock window lines up with your permit approval rather than expiring mid-framing.

Yes. Every draw request goes to the lender with the same line-item backup you see in your shared Procore budget — trade invoices, lien waivers, and the inspector's percent-complete sign-off. There is no markup applied at the draw; the lender sees exactly what you see.

We keep a short list of three portfolio and private-bank lenders who understand mountain custom construction, appraise on the Wasatch Back comp set, and have funded our builds on schedule. We introduce you; we never take a referral fee. You are free to bring your own lender and most banks will work within our draw schedule.