Florida Construction Loans
Ground-up financing for builders and investors building across Florida – from Miami high-rises to Panhandle spec homes. We underwrite to Florida Building Code requirements, wind-load and flood-zone realities, and release draws fast so your crews stay on schedule. Rates from 9.5%, closing in as few as 10-20 days.
- Financing custom homes, spec builds, multifamily & commercial statewide
- Up to 85% loan-to-cost and up to 75% of completed value
- Underwriting accounts for wind mitigation & flood-zone elevation requirements
- Coastal, inland, and master-planned community projects
- LLCs, builders & foreign nationals welcome · all 67 Florida counties
- Tell us about your projectCity or county, land, plans, and total budget.
- Get a same-day term sheetWe size the loan around cost, completed value, and your plan.
- Close and start buildingFirst draw funds fast, then draws release on schedule.
Florida Construction Loans – Key Facts (2026)
- What it is: Interest-only, draw-based financing to build a property from the ground up anywhere in Florida, sized around project cost and completed value rather than personal income.
- Why Florida: Sustained population growth, no state income tax, and steady demand for new housing and rental supply across both coastal and inland metros keep builders active statewide.
- Building considerations: Florida Building Code wind-load requirements, High-Velocity Hurricane Zone rules in Miami-Dade and Broward, and flood-zone elevation certificates in coastal and low-lying areas all factor into underwriting and design.
- Leverage: Up to 85% of total project cost and up to 75% of the completed, after-construction value.
- Structure: Interest-only during a 12-24 month construction term, rates from 9.5%, with draws released as inspected work is completed.
- Lender: CambridgeHomeLoan.com – direct lender since 1998, NMLS #1826020, lending in all 67 Florida counties.
Eligible projects
Florida construction projects we finance
From a single custom home in a coastal community to a multi-building development inland, we finance business-purpose construction projects across the state:
Custom Coastal & Single-Family Homes
Ground-up builds designed to Florida wind-load and flood-elevation standards, from inland lots to barrier islands.
Spec Home & Master-Planned Communities
Multi-home builds in fast-growing communities, financed individually or as a builder portfolio line.
Multifamily & Build-to-Rent
New apartment buildings and build-to-rent townhome communities across Florida’s growth corridors.
Commercial & Mixed-Use
New office, retail, and mixed-use buildings, from urban infill sites to suburban growth corridors.
Construction financing
What is a Florida construction loan?
A Florida construction loan funds the actual building of a property, from site work and foundation through framing, finishes, and certificate of occupancy. Funds are released in draws as each stage of construction is completed and inspected, and you pay interest only on the amount that has actually been drawn – not on the full committed loan. In Florida, underwriting also accounts for the Florida Building Code’s wind-load requirements, the tighter High-Velocity Hurricane Zone standards in Miami-Dade and Broward counties, and flood-zone elevation requirements for coastal and low-lying sites.
We size the loan two ways: as a percentage of total project cost (land plus hard and soft construction costs), and as a percentage of the property’s estimated value once construction is complete. We lend up to 85% of cost and up to 75% of that after-completion value, with rates from 9.5% on a 12-24 month interest-only term. When the project is finished, you can sell it, or refinance into a long-term loan – either as a separate transaction or, with our one-time-close option, automatically as part of the same loan.
| Secured by | The land and the property being built (asset-based) – qualified on project cost, value, and your plan |
| Loan amount | $150,000-$50,000,000 · custom homes, spec builds, multifamily, and commercial |
| Leverage | Up to 85% loan-to-cost · up to 75% loan-to-value on completed (ARV) value |
| Structure | Interest-only during construction · rates from 9.5% · 12-24 month term · draws released against completed work |
| Florida-specific | Wind mitigation reports and flood elevation certificates considered where applicable; county permitting varies by jurisdiction |
| Coverage | All 67 Florida counties, coastal and inland |
Loan programs
Florida construction loan programs
Choose the structure that matches how you plan to build and exit:
Ground-Up Construction
Interest-only financing to build a single project anywhere in Florida, with draws tied to completed work.
Construction-to-Permanent
A single closing that funds construction and then converts to a long-term loan automatically once the project is complete.
Builder Spec & Portfolio Lines
A revolving line for builders running several spec homes across a Florida community or growth corridor.
Land Acquisition + Construction
One loan to acquire a raw or improved Florida lot and fund the construction that follows, closed as a single transaction.
Why build in Florida
Why builders and developers choose Florida
- Sustained population growthFlorida continues to add residents faster than most states, keeping demand for new housing strong statewide.
- No state income taxA draw for both residents and out-of-state investors, supporting steady demand for new construction.
- Diverse market typesFrom dense urban infill in Miami and Tampa to master-planned suburban communities and coastal vacation markets, Florida offers multiple paths for builders.
- Financing that understands FloridaUnderwriting that accounts for wind-load and flood-zone requirements from the start, instead of surprises at appraisal.
Free tool
Construction loan & draw budget calculator
This tool estimates your total project cost, loan amount, and required equity, then estimates the average monthly interest-only payment during construction, using a typical assumption that the outstanding balance averages about half of the total loan amount as draws are released over the build. Enter your numbers to see the estimate. Illustrative only; final terms depend on your plans, budget, and underwriting.
Your project
Illustrative only; not a commitment to lend. Assumes an average outstanding balance of roughly 50% of the loan amount over the construction term, and excludes permits, impact fees, insurance, reserves, and closing costs. The interest rate is an example input, not a quote.
How we compare
CambridgeHomeLoan vs. Florida community banks
Florida community banks and credit unions can offer solid construction terms if you already bank with them, but their process often depends on an existing relationship and a lengthy internal approval. Here is how our builder-focused program typically differs. Where we lead, it is highlighted.
| Feature | CambridgeHomeLoan | Florida Community Banks (typical) |
|---|---|---|
| Qualifies on | Project cost, value & plan | Borrower relationship plus the project |
| Documentation | Streamlined – no exhaustive financials | Full financials, often a banking relationship |
| Time to close | As fast as 10-20 days | Often 45-90+ days |
| Draw turnaround | Typically 3-5 days | Often 1-2 weeks or longer |
| Coastal & flood-zone projects | Underwritten as routine business | Often restricted or scrutinized |
| Exit / refinance | In-house one-time-close option | Usually a separate permanent loan |
| Model | Direct lender since 1998 | Bank or credit-union backed |
Traditional-lender column is a generic composite of commonly seen terms as of 2026, subject to change, and does not describe any specific lender. For general comparison only.
Local markets
Florida construction loans by city
Construction and property considerations vary a lot within Florida – a Miami mid-rise, a Cape Coral canal-front spec home, and a Tallahassee rental duplex are different underwriting conversations. Here is a snapshot of what we typically see in some of the state’s most active building markets:
Miami
High-rise condo and luxury spec-home construction under strict Miami-Dade High-Velocity Hurricane Zone standards. Strong international buyer demand supports both condo development and custom estate builds.
Orlando
Rapid population growth is driving master-planned single-family communities and build-to-rent portfolios. Tourism proximity also supports short-term-rental-oriented new construction near the theme-park corridor.
Tampa
A fast-growing metro mixing urban infill spec homes with waterfront redevelopment and mixed-use projects. Strong appreciation has made teardown-and-rebuild construction increasingly common in established neighborhoods.
Jacksonville
Florida’s largest city by land area offers comparatively affordable lots, supporting single-family subdivisions, multifamily development, and industrial construction tied to the Port of Jacksonville.
Fort Lauderdale
Canal-front and waterfront luxury home construction is a defining niche here, alongside condo redevelopment near the marine and yachting industry that anchors the local economy.
St. Petersburg
A revitalized downtown is fueling mixed-use and multifamily infill construction, while surrounding neighborhoods see steady demand for new and rebuilt single-family homes near the waterfront.
Naples
One of Florida’s strongest luxury markets, with high-end custom home construction in gated communities and coastal estate rebuilds built to rigorous wind and flood standards.
Sarasota
A cultural coastal city with demand spanning barrier-island custom homes on Siesta Key and Longboat Key to mid-market single-family construction on the mainland.
West Palm Beach
Continued relocation of financial-sector firms has fueled luxury condo towers and custom estate construction, with strong appreciation supporting spec-home development.
Fort Myers
An active rebuilding and growth market with new subdivisions, build-to-rent single-family communities, and coastal construction rebuilt to current wind and elevation codes.
Tallahassee
An inland state-capital market with steadier demand and generally lower insurance costs than coastal Florida, plus consistent student and rental housing demand near Florida State and FAMU.
Cape Coral
One of the fastest-growing cities in the state, known for canal-front lots and a high volume of spec-home construction serving both year-round residents and vacation-home buyers.
We are serving all over Florida – if your city is not listed here, please call to discuss or submit the application so that we can check.
How it works
Get your Florida construction loan in three steps
Submit your plans
Tell us the city or county, land, your plans and specs, the total budget, and whether you’ll sell or hold when it’s done.
Get a same-day term sheet
We review the project cost, completed value, and your experience – with streamlined documentation – and send clear terms.
Close and start drawing
We close, fund your first draw, and release future draws quickly as each stage of construction is inspected and approved.
Requirements
Florida construction loan requirements
| Down payment / equity | As little as 15-20% of total project cost, depending on experience and the project |
| Credit | 640+ FICO typical; deal-first, exceptions considered |
| Income docs | Streamlined – asset and project-based; personal income is not the primary driver |
| Loan amount | $150,000-$50,000,000 · custom homes, spec builds, multifamily, and commercial |
| Plans, permits & codes | Approved plans and county permits (or in-process), Florida Building Code compliance, wind mitigation and flood elevation documentation where applicable |
| Vesting | Individual, LLC, or builder entity · foreign nationals eligible |
| Exit | Sale upon completion, or refinance to a long-term loan (one-time-close or two-time-close) |
Answers
Florida construction loan FAQ
What is a Florida construction loan?
A Florida construction loan funds the building of a property from the ground up – site work, foundation, framing, and finishes – through to a certificate of occupancy, anywhere in the state. Funds are released in draws as each stage is completed and inspected, and you pay interest only on the amount actually drawn.
We lend up to 85% of total project cost and up to 75% of the completed, after-construction value, with rates from 9.5% on a 12-24 month interest-only term. These are business-purpose loans for custom homes, spec builds, and ground-up multifamily or commercial projects, available from $150,000 to $50,000,000 in all 67 Florida counties.
Do you finance construction in flood zones or hurricane-prone coastal areas?
Yes. Coastal and flood-zone construction is routine business for us, not an exception. We factor in flood-zone designation, base flood elevation, and any required elevation certificate as part of underwriting, and we account for Florida Building Code wind-load requirements and the stricter High-Velocity Hurricane Zone standards that apply in Miami-Dade and Broward counties.
Your architect, engineer, or contractor will typically already be designing to these standards; we simply need the relevant plans, permits, and any wind mitigation or flood documentation as part of your file.
How do construction draws work?
Instead of receiving the full loan amount at closing, you receive an initial draw to begin work, then request additional draws as each phase – foundation, framing, mechanicals, finishes, and so on – is completed. We typically inspect the completed work before releasing the next draw, with turnaround of about 3-5 days.
Because interest only accrues on funds that have actually been drawn, your carrying cost stays lower early in the project and rises as more of the loan is disbursed.
What is the difference between loan-to-cost and loan-to-value on a construction loan?
Loan-to-cost (LTC) compares the loan amount to your total project cost – the land plus hard construction costs and soft costs like permits and design. Loan-to-value (LTV) compares the loan amount to the property’s estimated value once construction is complete, often called the after-completion value.
We size your loan using both measures and lend against whichever is more conservative: up to 85% of cost, and up to 75% of completed value.
What is the difference between a one-time-close and a two-time-close construction loan?
A one-time-close construction loan combines the construction financing and the long-term loan that follows it into a single closing, converting automatically once the project is complete. A two-time-close structure treats construction and permanent financing as two separate loans, closed at different times, offering more flexibility if you are not yet certain whether you will sell or hold the finished property.
We offer both, and can help you decide which fits your Florida project and exit plan.
Do I need to already own the land to get a construction loan?
No. Our land acquisition plus construction program can fund both the lot purchase and the vertical construction in a single loan, closed as one transaction, whether the lot is inland, on a canal, or on a barrier island. If you already own the land, that equity can typically be counted toward your required investment in the project.
What happens when construction is finished?
Once the project reaches completion and receives its certificate of occupancy, you can sell the finished property and repay the construction loan from the proceeds, or refinance into a long-term loan and hold it as a rental or for your own use. With a one-time-close loan, that conversion to permanent financing happens automatically as part of the same loan.
Keep exploring
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© 2026 CambridgeHomeLoan.com · NMLS #1826020 · 4830 W Kennedy Blvd, Tampa, FL 33609 · (800) 826-5077 · Equal Housing Lender. Construction loans are business-purpose loans for the construction of non-owner-occupied or investment property and are not available for primary residences except where a construction-to-permanent product specifically permits it. Rates, points, loan-to-cost, loan-to-value, terms, draw schedules, and closing timelines are illustrative, subject to change without notice, and subject to borrower, project, and deal qualification and underwriting approval. “Rates from 9.5%,” “up to 85% loan-to-cost,” and other maximums reflect the strongest profiles and are not a quote or commitment to lend. Completed values are estimates confirmed by an appraisal or valuation. Calculator results are illustrative and exclude permits, impact fees, insurance, reserves, and closing costs. City descriptions are general market observations for illustration only and are not property-specific advice. Comparison figures are generic market composites for illustration only and are not the terms of, or an endorsement of or by, any specific lender. Illustrations on this page are artwork and do not depict specific properties or projects. Borrowers are responsible for confirming applicable Florida Building Code, wind mitigation, flood zone, and local permitting requirements with licensed professionals. This page is informational and does not constitute financial, legal, tax, or investment advice.