Construction Loans · New York

Construction Loans in New York — One Close. Zero Surprises.

Whether you're building a custom home in New York City, renovating in Buffalo, or developing in Rochester — Sean Shallis structures construction-to-permanent loans with one closing instead of two, so you pay one set of closing costs.

Single close. Interest-only during build. One rate lock. One appraisal. Draw schedule managed. Originated through a national portfolio lender.

Get Your Build BudgetBook Strategy Call
90-second pre-qualification No credit impact $100K+ minimum project
Construction Lending in New York

New York builders deserve a lender who manages the details.

Sean Shallis is a national construction loan specialist who originates through a national portfolio lender, with the same file and the same underwriter from application to close. He structures single-close construction-to-permanent loans with one closing instead of two, locks your rate before you break ground, and keeps the draw schedule on track so your builder gets paid on time.

Whether you're building a custom home in New York City, doing a gut renovation in Buffalo, or combining construction financing with a physician loan — Sean's construction programs are available nationwide with the same white-glove service.

01
Plan with Sean
Share your New York build plans, budget, and timeline. Sean structures a single-close loan covering lot, construction, and permanent mortgage in one.
02
Build with Confidence
During construction, pay interest-only on funds drawn. Sean manages the draw schedule with your New York builder — releasing funds at each milestone.
03
Move In with One Mortgage
When construction completes, your loan converts automatically. No second closing. No re-qualification. No surprises.

Custom Build in New York

Building from the ground up in New York City or Buffalo? One loan, one close, one rate lock from dirt to doorstep.

Major Renovation

Gut renos and renovation-to-permanent projects in New York. Transform an existing structure without juggling multiple loans.

Physician Builders

Physicians building in New York can combine construction-to-perm with physician loan benefits. Student loan-friendly DTI available.

Investment Builders

Developing rental or investment properties in New York? Competitive terms for experienced investors with $100K+ projects.

One Close
Not Two

One set of closing costs and one appraisal. No second closing when the loan converts.

Interest-Only
During Build

Pay only interest on funds drawn — not the full loan amount

One
Rate Lock

Lock your permanent rate before construction begins

12-18 Mo
Build Window

Generous construction timeline with extension options

Sean vs. Typical New York Construction Lenders

Most New York lenders require two closings and leave you managing the draw schedule yourself.

Feature
Working With Sean
Typical NY Lender
Single close (one set of closing costs)
—
Interest-only during construction
Rate locked before build starts
—
Draw schedule managed for you
—
Physician loan combo available
—
Renovation-to-permanent eligible
—
No re-qualification at conversion
—
Lot purchase + construction in one loan
—

Building Across New York

Sean works with builders and developers across every New York market — and nationwide.

New York City, NY

Construction-to-permanent loans available for custom builds and renovations in New York City.

Buffalo, NY

Construction-to-permanent loans available for custom builds and renovations in Buffalo.

Rochester, NY

Construction-to-permanent loans available for custom builds and renovations in Rochester.

Albany, NY

Construction-to-permanent loans available for custom builds and renovations in Albany.

Construction Loan FAQ — New York

What's the difference between single-close and two-close construction loans in New York?
A two-close loan requires separate closings (and separate fees) for the construction phase and permanent mortgage. Sean's single-close program combines both into one loan: one closing, one set of closing costs, one appraisal. For New York builders that also removes the risk of rate changes or re-qualification between phases.
What's the minimum project size for a construction loan in New York?
The minimum project size is $100K. This applies to both new construction and renovation-to-permanent projects in New York. There's no maximum — Sean regularly structures construction loans for custom builds well into the millions.
Can I do a renovation-to-permanent loan in New York?
Yes. If you're doing a gut renovation or major structural work on a New York property, renovation-to-permanent financing rolls your purchase (or refinance), renovation costs, and permanent mortgage into a single close.
How does the draw schedule work?
Funds are released to your New York builder at pre-agreed milestones (foundation, framing, mechanical, etc.). Sean coordinates inspections and approvals so draws are released promptly. You only pay interest on funds that have been drawn — not the full loan amount.
Can I combine a construction loan with a physician loan in New York?
Yes. Physicians building custom homes in New York can access construction-to-permanent financing with physician loan benefits including favorable DTI treatment for student loans. This is one of Sean's specialties.
Can I include lot purchase in my New York construction loan?
Yes. If you haven't purchased your New York lot yet, the single-close loan can include lot acquisition, construction costs, and your permanent mortgage — all in one loan with one closing. If you already own the lot, its equity counts toward your down payment.
What's the typical timeline from application to breaking ground?
Plan for 30-45 days from application to closing. You'll need approved plans, a licensed New York builder, and a detailed budget. Sean's team works in parallel with your builder to keep the timeline tight. The construction phase itself typically runs 12-18 months.

Ready to plan your New York build?

90 seconds with Rosie to get your build budget. No credit impact. No obligation. Or book a 20-minute strategy call with Sean.

Get Your Build BudgetBook Strategy Call

Know New York before you borrow

How closings work in New York

An attorney state: the buyer and the seller each have counsel, and the closing happens at a table with everyone present. Contracts are negotiated by the attorneys after the offer is accepted.

Taxes and transfer costs

New York charges a mortgage recording tax on most mortgages, and New York City adds its own transfer taxes. Co-ops in the city are financed with share loans rather than mortgages, which changes the whole paperwork path.

Insurance that shapes the file

Coastal Long Island, the boroughs, and river valleys carry flood-zone designations that require flood insurance before a loan can fund.

Where people are buying

New York City · Long Island · Westchester and the Hudson Valley · Albany · Buffalo · Rochester. First-time and lower-down-payment programs run through the State of New York Mortgage Agency (SONYMA).

Plain-English notes, not legal or tax advice. Sean originates in all 50 states. Everything about mortgages in New York →

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