Using one of Keel Custom Home’s preferred lenders minimizes delays and ensures a smooth lending experience.
Receive a $10,000 credit when using one of our preferred, top rated lenders!
-
Greg Cowart and Jesse Perrone with The Greg Cowart Team
About Jesse and Greg
With a combined 36 years of experience, Greg and Jesse are trusted leaders in the mortgage industry—consistently ranked in the Top 1% of mortgage originators nationwide. As part of Keel Custom Homes’ preferred lending team, they offer more than expertise—they offer a seamless, personalized experience from start to finish. By running their own branch, Greg and Jesse maintain full control over the loan process, ensuring efficiency, consistency, and clear communication every step of the way.
What truly sets them apart is their background in counseling. Their warm, consultative approach turns a traditionally stressful process into a supportive, team-oriented journey. Clients often describe them as responsive, down-to-earth, and genuinely invested in their success.
Jesse, a lifelong Virginian and mother of two, holds a psychology degree from VCU. She began her career in counseling before discovering a natural fit in mortgage lending. Today, she channels her empathy and insight into helping clients navigate one of life’s biggest financial decisions. Passionate, resourceful, and tenacious, Jesse is your advocate—committed to helping you win the home you love.
Greg, a father of three and Richmond resident since 1994, studied education and social science at JMU and earned a Master’s in Counseling from VCU. With over two decades in the mortgage industry, he brings extensive experience working with both national and local homebuilders throughout the Richmond market. Greg offers the insight, stability, and commitment needed to guide clients through the lending process with confidence.
New construction lending is a highly specialized field—with its own language, timelines, and complexities. Greg and Jesse know it inside and out. Their deep experience and collaborative mindset make them the ideal partners for Keel Custom Homes—and for you.
Whether you're building your dream home or just getting started, Greg and Jesse are here to make financing feel less like a process and more like progress.
-
Joe Dunn with First Heritage Mortgage
About Joe
Joe Dunn brings a wealth of experience and dedication to his role as EVP, Southern Virginia Regional Sales Manager based in Richmond, Virginia. With a wealth of experience in the banking and financial services industry, Joe has established himself as a leading figure in providing comprehensive loan solutions to clients. His expertise encompasses a broad range of loan products, including residential mortgages, commercial lending, and specialized financing options.
Joe’s career is marked by a commitment to personalized service and a deep understanding of the local market. He has a proven track record of supporting clients through every step of the loan process, from initial consultation to closing, ensuring a seamless and positive experience. His approach is characterized by a blend of technical knowledge, strategic insight, and a genuine desire to help clients achieve their financial goals.
“It’s a Dunn deal!”
-
Evan Rutherford with Arbor Home Loans
About Evan
Evan Rutherford is an experienced mortgage loan officer with a strong background in finance and consulting. A graduate of the College of William and Mary with a degree in finance, Evan began his career at a top consulting firm in Washington, D.C., before transitioning to mortgage lending in 2016. He has consistently been a top producer, known for his exceptional customer service ratings. His unique blend of financial expertise and consulting experience allows him to effectively serve a diverse range of clients, helping them navigate the mortgage process with confidence and ease.
He lives in the Midlothian area of Richmond with his wife and their young son. As a former swimmer at William and Mary, Evan is a lover of the water and enjoys the easy drive to the Outer Banks in the summer, where he and his wife got married. Whether at home or by the beach, Evan values time with his family and the vibrant community around him.
Lean More About Loans
What are Construction Loans?
A construction loan is a short-term loan used to finance the building or renovation of a home, with funds disbursed in stages as work progresses. It typically has higher interest rates, interest-only payments during construction, and requires detailed plans and builder approval. Once the home is complete, it’s often converted into a permanent mortgage. In contrast, a traditional mortgage is a long-term loan with lower, fixed or adjustable interest rates, used to purchase or refinance an existing home. The loan amount is given in full at closing, and payments go toward both principal and interest from the start.
Common types are a “standalone” or construction-only loan which is a short-term loan (generally with a year-long term) — which only finances the building phase. The other is a “construction-to-permanent” loan, that converts into a mortgage once construction of the home is completed. Borrowers who take out a standalone construction loan often get a separate mortgage to pay it off when the principal falls due.
Construction Loan Rates
Construction loan rates typically range from 1% to 2% higher than traditional mortgage rates. For example, if a conventional mortgage rate is around 6%, a construction loan might range between 7% and 8%.
Why are construction loan rates higher?
Higher Risk for Lenders — The home doesn’t exist yet, so the lender is taking on more risk in case construction doesn’t finish as planned.
Short-Term Nature — Since these are short-term loans (usually 6–18 months), lenders charge more for the quick turnaround.
Variable Rates — Many construction loans have variable rates that adjust during the loan term, reflecting market fluctuations.
More Oversight — Lenders put extra effort into inspections, draw schedules, and monitoring the project, and the higher rate offsets that cost.
Qualifying for a Construction Loan
Good Credit Score
Most lenders require a minimum credit score of 680–720.
Solid Down Payment
Usually 20% to 25% of the total project cost (land + construction).
Low Debt-to-Income (DTI) Ratio
Lenders typically want to see a DTI ratio of 45% or less.
Detailed Construction Plan
Must submit blueprints, specifications, project budget, and timeline.
A signed contract with a licensed builder is often required.
Appraisal on Future Home Value
The lender will appraise the property based on the plans and specs to ensure the completed home will support the loan amount.
Proof of Income & Assets
Just like a mortgage, you’ll need W-2s, tax returns, bank statements, and sometimes proof of additional reserves.
Builder Approval
The lender will vet and approve your builder to ensure they’re qualified and experienced.
