The Right Builder. In order to receive a construction loan, you need to have a licensed general contractor on board. "If you're planning on doing the building yourself, you will run into problems," says Litzner. A qualified builder provides you with the reputation that allows the lender to have confidence in your project.Details. "Before you can be approved for a construction loan, you will need to supply the lender with a ton of details, from floor plans to what type of insulation you plan on installing," states Litzner. "Talk to your builder and plan out as much of the home building process as you possibly can. This will also allow you to be more organized when it comes time to build." An Appraised Home Value. Before you can build, you need to get your future home appraised. "This may seem ridiculous-your home doesn't even exist yet!-but your lender needs to know the future value of your home before they will lend you the funds to build it," Litzner says. They don't want to lend you more than the home will be worth in the long run. For more information on home loans, please contact Century 21 American Homes at 1-800-270-6318. To view available new construction properties "Click Here". Century 21 American Homes is one of the fastest growing real estate brokerages serving Long Island, Queens and Brooklyn. To find out more about an exciting career in real estate contact us at email@example.com.