University Park, Texas
University Park Construction Loans
University Park, part of the prestigious Park Cities, is one of Texas's most sought-after luxury home markets. With top-ranked HPISD schools and proximity to SMU, custom home builds in University Park routinely involve high budgets and strict architectural standards. A University Park one-time close construction loan provides the specialized financing these projects require.
The University Park Market
Custom Home Construction in University Park
University Park's custom home market is characterized by teardown-and-rebuild projects, where older homes on prime lots are replaced with new luxury construction. Build costs in University Park frequently exceed $450 per square foot, with total project costs ranging from $2 million to $10 million. The town's architectural review process and lot size constraints require a lender who understands how to structure loans for dense, high-value lots with significant soft costs and extended timelines.
Typical Build Budget
$2M – $10M+
Loan Type
One-Time Close
Why One-Time Close
Why University Park Borrowers Prefer a One-Time Close
University Park builds are high-value projects that typically take 14 to 20 months. A one-time close construction loan locks your permanent rate before construction begins, providing critical protection against rate increases on loan amounts that often exceed $3 million. One closing also saves substantial costs on title insurance and fees that would be duplicated in a two-close structure.
Single closing with one set of closing costs
Permanent interest rate locked before construction begins
No need to re-qualify after construction is complete
Interest-only payments during the construction period
Automatic conversion to permanent mortgage at completion
Loan Programs
Construction Loan Options in University Park
One-Time Close Construction Loan
Single-close financing with rate certainty for University Park luxury builds.
Super Jumbo Construction Loan
Construction financing for University Park estates with portfolio underwriting for complex financial profiles.
Lot & Land Financing
Secure a University Park lot with financing that converts to construction when you are ready to build.
Where to Build
Notable University Park Communities
University Park Proper
The historic core of the Park Cities with tree-lined streets, HPISD schools, and some of the highest property values in Texas.
Goar Park Area
A desirable section of University Park adjacent to green space with custom estate homes.
Builder Network
Premier Custom Builders in University Park
We work with University Park's top custom home builders. While you may choose any licensed builder, here are some of the premier builders active in the University Park market:
FAQ
University Park Construction Loan FAQs
Can I finance a teardown and rebuild in University Park?
Yes. A one-time close construction loan can finance the purchase of an existing University Park home, demolition, and new construction in a single loan with one closing.
What is the maximum construction loan in University Park?
There is no fixed cap. Super jumbo construction loans in University Park can exceed $10 million based on your qualifications and the appraised value of the completed home.
How does a one-time close work for a University Park build?
You close once before construction begins, locking your permanent rate. The loan pays your builder in draws as milestones are completed. When construction finishes, the loan converts to your permanent mortgage automatically.
Ready to Build in University Park?
With 26 years of mortgage experience and over $334 million funded since 2022, Darren Davey is your University Park construction loan expert. Let's discuss your project.