Skip to main content
FDIC Logo

FDIC-Insured—Backed by the full faith and credit of the U.S. Government

Close

Before you go

You are about to leave flagstar.com and access a site administered by a third-party. The site you are going to may have different privacy and security policies. We recommend that you review these policies on the linked site. If you choose to proceed, a new browser window will open. To return to flagstar.com, close the new browser window.

Continue

Home Building and Remodeling Loans

Home construction projects can be complex, so we made the financing simple.

We’re here to help every step of the way

Icon of a computer monitor and smart phone

Apply online

Start your loan application here. Don't worry—if you get stuck, we're just a phone call away.
Icon of a person and a word balloon

Call us at
${phone}

We'll help you find the right loan, start your application, and answer your questions.
Icon of a person standing next to a map location symbol

Find a loan advisor

Connect with a local expert and meet remotely or at a nearby branch. We'll guide you through the entire home loan process.

Great mortgage solutions for building and remodeling

The right financing will take some of the stress out of your big project. Choose a home renovation and home-building loan that keeps closing costs down and features interest-only payments until the construction is complete.

Icon of a checkmark in a box

Home renovations

With a home equity line of credit, you can renovate your current or future home.

Icon of a checkmark in a box

New home construction

Interest-only payments during the construction period.

Icon of a checkmark in a box

Construction draw loan

Offering a variety of permanent loans once your new home is complete.

Let’s make your dream home happen

Building or renovating a home is exciting, but it comes with hundreds of decisions. Finding the right lender is an easy one. Flagstar offers different types of mortgages to fit your needs and your budget, including home renovation loans, new home construction loans, and home remodeling loans. Contact us to find a construction loan that's perfect for your project. 

  • Conventional, jumbo, U.S. Department of Veterans Affairs (VA), U.S. Department of Agriculture (USDA), and Federal Housing Administration (FHA)  loans
  • Fixed and adjustable interest rates
  • Interest-only payments during construction
  • One loan to cover home price and renovation costs
  • Loan amounts up to $4 million for building a primary residence
  • Loan amounts up to $10 million, relationship pricing and higher loan amounts are available for qualified borrowers with eligible deposit accounts1

Available construction loans

Creating the home you want is possible. We'll help you find the right conventional or jumbo loan to see you through the construction phase and beyond.

Up to $3 million

Construction draw

This special loan gives you the opportunity and flexibility to construct a new home. 

  • Loan amounts up to $3 million for primary residence2
  • Interest-only payments during construction
  • A variety of mortgages to choose from once the build is complete3
Apply now
Connect with a loan advisor

Save on closing costs

One-close construction loan

Build the home of your dreams and make interest-only payments during construction.

  • One-close conforming loan, ARM:4 Save with just one set of closing costs and fees
  • One-close jumbo ARM loan5: Simple, flexible draw process for building a higher priced home
Apply now
Connect with a loan advisor

Let’s find the perfect mortgage for you

If you're like most people, buying a home is the largest purchase you'll ever make, but you don't have to go it alone. Talk to the friendly, competent, and trustworthy experts at Flagstar to find a home loan that's right for you. 

Icon of a computer monitor and smart phone

Apply online

Start your loan application here. Don't worry—if you get stuck, we're just a phone call away.

Icon of a person with a speech bubble in front of them

Speak with a loan advisor

We'll help you find the right loan, start your application, and answer your questions.

Icon of a person standing next to a map location symbol

Find a loan advisor

Connect with a local expert and meet remotely or at a nearby branch. We'll guide you through the entire home loan process.

Manage your loan your way with MyLoans®

Sign in to MyLoans anytime to make payments, view your statements, sign up for paperless statements, and more. Everything you need is right at your fingertips.

Learn more
A younger adult has their arm around an older adult as they look at something on their smartphone

Everything you need to know about home loans

Whether you're an expert or a first-timer, find the ins and outs of mortgages here. Learn what it takes to qualify for a loan, discover the different types of mortgages, and finally understand what an escrow account is for. 

Icon of a house with a checkmark in front of it

Home loan basics

Learn how mortgages work, the differences between adjustable and fixed interest rates, and more.
An icon of a house with a cog in front of it

The mortgage process

Get a step-by-step breakdown, from prequalifying to inspections to closing and beyond. 
Icon of a house with calculator symbols in front of it, including plus, minus, multiplication, and equal signs

Mortgage Loan Calculators

Calculate your house-hunting budget, monthly payments, closing costs, and more.

Why choose Flagstar?

A mortgage is more than a monthly payment. It’s the foundation of your financial future, giving you peace of mind today while still leaving room for other goals. Flagstar will help you find the right financing for your life from our full range of solutions, including jumbo and government-backed mortgages and home equity lines of credit. Whether you’re buying a home, refinancing, or tapping into your home’s equity, you can count on our decades of experience, make-life-easier technology, and simple application to support you.

award ribbon

Best Mortgage Lenders for First-Time Homebuyers

Forbes, 20256

award ribbon

Best Mortgage Lender Overall

NerdWallet 20247

phone with arrow pointing up

Simple Application Process

Apply online or over the phone

house with arrows pointing left and right

Expansive Product Set

Competitively priced conventional, government, and specialty solutions

You may also be interested in:

A parent teaches their child how to shave in a bright bathroom

Adjustable rate mortgages

Don't let the word “adjustable” keep you away from a great loan. Find out if an ARM is right for you.
A young couple shakes hands with a person across a desk
The mortgage process

You've already found the right lender. Now it's time to learn the steps from getting prequalified to closing on your new home.
A smiling parent holds up their young child who is laughing

Jumbo loans

Discover how a jumbo loan can be a smart way to finance higher-priced homes. 

Programs for qualified borrowers. All borrowers are subject to credit approval, underwriting approval, and product requirements, including loan to value, credit score limits, and other lender terms and conditions. Fees and charges may vary by state and are subject to change without notice. Some restrictions may apply. Not a commitment to lend. A loan advisor will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.

1To be eligible for this product, borrowers must meet minimum depository requirements with Flagstar Bank. The minimum required relationship is 10% of the loan amount deposited in either personal, business or money market accounts. Assets may be new deposits received, or existing funds currently held in an eligible account. To qualify for Mortgage-Based Relationship Pricing, only new funds in an eligible account may be used to meet the minimum depository requirements. Consult your Loan Advisor for more information on relationship pricing.

2Purchase of a primary residence or second home. Requires a fully executed, third-party builder contract. Construction term of 12 months. Borrower must make interest-only payments during the construction term. Maximum loan amount may vary due to the subject property's state and county. Construction loan approval subject to end loan commitment. Not available in Puerto Rico. or U.S. Virgin Islands.

Loan amounts up to $3 million are eligible in specific counties: CA Counties: Alameda, Contra Costa, Los Angeles, Marin, Monterey, Napa, Orange, San Diego, San Francisco, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Sonoma, Ventura. MI Counties: City of Birmingham and City of Bloomfield Hills. WA Counties: San Juan and King County. WY Counties: Teton and Albany.

Mortgage insurance (MI) is not required on the construction loan but may be on the end loan for an LTV (Loan-to-value) greater than 80%. Important information will be provided to you in the disclosures you receive after we have received your application and the loan documents you are provided at loan closing.-month construction loan period. Borrower must close on the end loan after construction is complete.

3Borrower must qualify for end loan financing prior to construction, and upon completion of the construction of the dwelling.

4Construction to permanent financing for primary residence and second homes. Conforming one-close 12-month construction term program allowing for payment of interest-only during construction. Note to be modified upon completion of improvements to a fully amortized principal and interest payment. Soft costs (architectural, engineering and permit fees) may be financed, closing costs may not. Full third party builder contracts only. Not available in U.S. Virgin Islands.

Borrower must have an escrow waiver to be eligible for payments of interest-only during construction. A loan-to-value ratio above 80% may result in a need for mortgage insurance. If mortgage insurance is required, the amount of your payment will increase.

5Construction-to-Permanent financing for primary residence and second homes. During the construction phase, interest-only payment based on the amount drawn will be due. When construction is completed, your loan will modify to a fully amortizing adjustable-rate mortgage which will have an initial fixed-rate period. After the fixed rate period ends and for the life of your loan, your interest rate and payment will adjust up or down every six months according to market rates. If escrows are required, monthly payments for taxes and insurance will be due. Land value or closing costs are not included. Subordinate financing not allowed. Full third-party builder contracts required. Important information will be provided to you in the disclosures you receive after we have received your application, and the loan documents you are provided at loan closing. Not all products are available in all territories.

6Forbes named Flagstar one of its Best Mortgage Lenders for First-Time Homebuyers, 2025.

7NerdWallet named Flagstar Best Mortgage Lender Overall, 2024.

Flagstar Bank NMLS# 417490