Guide

Financing a steel-frame home

This page is general information, not an offer of credit. It contains no rates or terms.

Common loan structures

• Construction-to-permanent ("one-time close"): a single loan funds construction in draws to the builder, then converts to a permanent mortgage. Florida credit unions describe this structure, for example Space Coast Credit Union and Florida Credit Union.
• Separate construction and end loans: two closings, one for the build and one for the permanent mortgage.

Steel-frame specifics to ask about

• How the appraisal treats a steel-frame home and which comparable sales are used.
• What builder documents the lender needs (contract, plans, engineering, draw schedule).
• How draws are scheduled when frames are delivered as manufactured components.

On Target Mortgage

On Target Mortgage, LLC (NMLS #2629561) is an affiliated On Target Network company. You can ask for general information through our contact page. All loans are subject to application and approval.

Sources

• https://www.sccu.com/personal/mortgage-purchase-products/construction-home-loan
• https://flcu.org/loans/mortgages/construction-and-land-loans/

Sources checked 2026-10-14.