Calculate Construction Loan Payments in Fabens, Texas

Discover how to finance your construction project in Fabens, Texas, with Summit Lending. Use our tools to calculate loan payments and secure the funding you need for builds of all kinds.

One Time Close

With a one-time close construction loan, you finance both the construction and the long-term mortgage for your new home at the same time in one transaction.

Two Time Close

With a two-time close construction loan, you have two separate loans for the construction of your new home. First, you will have a loan for the construction, and then once the home is finalized this loan is paid off by a separate loan for the long-term financing.

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Median cost to build a new home in Fabens, TX~$162 per square foot

While specific data for new home construction costs in Fabens, TX is not readily available, the average cost to build a house in Texas is approximately $162 per square foot, with estimates ranging from $100 to $200 per square foot. Given that the median listing price per square foot for existing homes in Fabens is lower (around $85-$94), new construction costs in the area might lean towards the lower end of the state average.

Average cost per square foot for new residential construction in Fabens, TX$228/sq ft

In August 2025, the average price per square foot for homes in Fabens, TX, was $228. This falls within the broader Texas average for new residential construction, which typically ranges from $100 to $200 per square foot for basic builds and up to $500 per square foot for custom homes. The overall average cost to build a house in Texas, including contractor fees, is approximately $195 per square foot.

Typical down payment percentage for construction loans in Texas10% to 25%

While a 20% down payment is standard for traditional construction loans in Texas, some lenders may require 25% or more. Minimum down payments can be as low as 10% for certain loans, with government-backed options like VA or USDA loans potentially requiring 0% down, and FHA loans around 3.5%.

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Construction Loan Payment Calculations in Fabens, Texas

Building a home, renovating a property, or embarking on a commercial construction project in Fabens, Texas, is an exciting endeavor. However, financing such projects can be complex and requires careful planning. At Summit Lending, we specialize in helping clients in Fabens and across Texas secure construction loans tailored to their unique needs. With over 50 years of combined experience, our mortgage brokers are dedicated to guiding you through the process of calculating loan payments and obtaining the funding necessary to bring your vision to life. Whether you're a homeowner, builder, or developer, we're here to make your construction journey seamless.

Why Choose Fabens, Texas for Your Construction Project?

Fabens, located in El Paso County, is a small but thriving community near the Rio Grande and the U.S.-Mexico border. With a population of approximately 8,000, Fabens offers a tight-knit, rural atmosphere while being just 30 miles southeast of El Paso, providing easy access to urban amenities. According to data from the U.S. Census Bureau, the median home value in Fabens is significantly lower than the Texas state average, making it an affordable location for new construction and property development. Additionally, the area's strategic position along Interstate 10 and its proximity to international trade routes make it appealing for commercial projects.

The local economy in Fabens is supported by agriculture, small businesses, and growing residential demand, creating opportunities for custom homes, renovations, and commercial builds. Whether you're looking to build a family home near the scenic desert landscapes or invest in a commercial property to serve the border region's needs, Fabens offers a cost-effective and promising environment. At Summit Lending, we understand the unique opportunities and challenges of building in Fabens, and we're ready to help you secure the financing you need.

What Are Construction Loans?

A construction loan is a short-term financing solution designed to cover the costs of building or renovating a property. Unlike traditional mortgages, construction loans are disbursed in stages, known as 'draws,' aligned with key milestones in the construction process. This ensures that funds are available for materials, labor, and other expenses as needed. At Summit Lending, we offer a variety of construction loans for projects in Fabens, Texas, including:

Custom home builds for individuals and families
Speculative homes for builders and developers
Major home renovations or additions
Commercial construction projects

Our goal is to simplify the financing process, allowing you to focus on creating the space you've envisioned. Whether you're breaking ground on a new home or expanding a business in Fabens, our team has the expertise to guide you through every step.

Types of Construction Loans Available in Fabens, Texas

At Summit Lending, we provide flexible construction loan options to meet the diverse needs of our clients in Fabens. Here are the primary types of loans we offer:

1. Construction-to-Permanent Loans

Also known as a 'one-time close' loan, this option allows you to finance both the construction phase and the permanent mortgage with a single loan. Once your project in Fabens is complete, the loan converts into a traditional mortgage without the need for a second closing, saving you time and reducing costs.

2. Stand-Alone Construction Loans

This short-term loan covers only the building phase. After completion, you'll need to secure a separate mortgage to pay off the construction loan. This is ideal for those in Fabens who have a long-term financing plan or plan to sell the property after construction.

3. Renovation Loans

For homeowners in Fabens looking to update an existing property, a renovation loan can cover costs for materials, labor, and other expenses. These loans are perfect for increasing property value through significant improvements.

4. Owner-Builder Loans

If you plan to act as your own general contractor in Fabens, an owner-builder loan provides the funds to manage the construction process. This option requires detailed planning and documentation but can save on contractor fees for experienced builders.

Ready to explore your options? Contact Summit Lending today at [email protected] or call 385-200-1470 to discuss your Fabens construction project and find the right loan for you.

How Do Construction Loans Work?

Understanding the mechanics of construction loans can help you prepare for your project in Fabens. Here's a step-by-step overview:

Application and Pre-Approval: Start by applying for a construction loan with Summit Lending. We'll review your credit, income, and project plans to determine eligibility and loan amount. Pre-approval helps you establish a budget before starting construction in Fabens. Visit our Pre-Approval Page to learn more.
Project Planning and Budgeting: Provide detailed plans, timelines, and a budget for your project, including contractor bids and material costs. Our team ensures all documentation meets lender requirements.
Loan Disbursement in Draws: Funds are released in stages based on project milestones, such as foundation completion or framing. An inspector may verify progress before each draw is released.
Construction Phase: During construction, you may make interest-only payments on the disbursed amount, keeping monthly costs manageable.
Completion and Conversion: Once complete, the loan converts to a permanent mortgage (for construction-to-permanent loans) or is paid off through a separate mortgage or property sale.

Navigating a construction loan can be complex, but Summit Lending's experienced brokers simplify the process. Connect with one of our Loan Officers for personalized assistance in Fabens.

Calculating Construction Loan Payments for Projects in Fabens, Texas

One of the most critical aspects of planning a construction project is understanding the cost of financing. At Summit Lending, we frequently assist clients in Fabens with calculating construction loan payments. While exact payments depend on factors like loan size, interest rate, and repayment terms, here's a general guide to help you plan.

During the construction phase, most loans require interest-only payments on the funds disbursed. For instance, if you've drawn $75,000 of a $300,000 loan at a 5% interest rate, your monthly interest payment would be approximately $312.50 ($75,000 x 0.05 / 12). As more funds are drawn for your Fabens project, interest payments increase accordingly.

Once construction is complete and the loan converts to a permanent mortgage (if applicable), payments will include both principal and interest, similar to a traditional mortgage. The total cost depends on the loan term (e.g., 15 or 30 years) and the final interest rate. For a precise estimate, use our Loan Calculator to input your project details and get real-time payment projections based on current rates.

Need help with calculations or have questions? Reach out to us at our Tremonton, UT office by visiting our Contact Us page or call 385-200-1470 for expert guidance tailored to Fabens, Texas.

Benefits of Choosing Summit Lending for Construction Loans in Fabens

At Summit Lending, we are committed to providing exceptional service and customized financing solutions for clients in Fabens, Texas. Here are some reasons why locals trust us with their construction loan needs:

Local Expertise: We understand the unique construction challenges and regulations in Texas, including Fabens, ensuring compliance and efficiency.
Personalized Guidance: Our mortgage brokers work closely with you to find the best loan product for your project, budget, and timeline.
Streamlined Process: From application to closing, we make financing straightforward and stress-free with clear communication at every step.
Builder Support: We offer specialized services for builders through our Builder Portal, making us a trusted partner for construction professionals in Fabens.
Competitive Rates: We strive to offer competitive interest rates and terms to help you save on the overall cost of your project.

Ready to start building in Fabens? Call us today at 385-200-1470 or email [email protected] to speak with a construction loan expert.

Construction Loan Requirements for Fabens Projects

Qualifying for a construction loan often requires more documentation than a standard mortgage due to the risks associated with building projects. While requirements vary, here are common criteria for Fabens residents:

Credit Score: Most lenders require a minimum credit score of 680, though higher scores can secure better rates.
Down Payment: Construction loans typically require a down payment of 20-25% of the total project cost, though some programs offer lower options.
Debt-to-Income Ratio: Lenders look for a DTI ratio below 43% to ensure you can manage payments alongside other debts.
Project Plans: Detailed blueprints, timelines, and budgets are essential, along with contractor agreements if applicable.
Appraisal: An appraisal of the completed project's value is often required to determine loan eligibility.

Our team at Summit Lending will guide you through gathering the necessary documents and meeting these requirements. For first-time builders, explore our First-Time Home Buyer resources for additional support.

Why Construction Loans Are a Smart Choice in Fabens, Texas

According to the U.S. Census Bureau, new residential construction spending nationwide exceeded $800 billion in 2022, reflecting a growing demand for custom homes and renovations. In Fabens, where land and property costs remain relatively low compared to larger Texas cities, construction loans offer a practical way to fund projects without draining personal savings or resorting to high-interest credit options. They provide flexibility to build on your timeline while managing costs effectively.

Moreover, a well-executed construction project in Fabens can significantly increase property value. Research from the National Association of Realtors suggests that home renovations can yield a return on investment of 60-80% or more, depending on scope and location. By partnering with Summit Lending, you're not just financing a build—you're investing in your future in a promising Texas community.

Additional Considerations for Building in Fabens, Texas

Before starting your construction project in Fabens, it's important to consider local factors that may impact your build. The area experiences a hot desert climate, with temperatures often exceeding 90°F in summer, according to the National Weather Service. This may affect construction timelines and material choices, requiring heat-resistant designs and strategic scheduling to avoid peak heat. Additionally, Fabens is in a region prone to water scarcity, so incorporating sustainable building practices, such as xeriscaping or water-efficient systems, can enhance your project's long-term value.

Local zoning laws and permitting processes in El Paso County also play a role. Working with a knowledgeable lender like Summit Lending ensures that your project complies with regulations and avoids costly delays. Our familiarity with Texas markets means we can connect you with resources and contractors who understand the local landscape.

Get Started with Summit Lending in Fabens Today

Ready to break ground on your construction project in Fabens, Texas? Summit Lending is here to support you every step of the way. Our team of experienced mortgage brokers and loan officers is committed to finding the right construction loan for your needs, ensuring a smooth and successful build.

Don't wait—contact us now to discuss your project and get a personalized quote. Reach out via email at [email protected], call us at 385-200-1470, or visit our office at 305 E Main Street Suite 202, Tremonton, UT 84337. Explore more about our services on our Mortgage Loans Page or read what our satisfied clients have to say on our Testimonials Page.

Let Summit Lending be your trusted partner in building the future you've dreamed of in Fabens, Texas. We look forward to working with you!

Median price of undeveloped residential land in Fabens, TX$206,214

The average listing price for undeveloped land in Fabens, TX, is $206,214, with an average cost of $11,661 per acre. There are approximately 95 undeveloped properties currently available for sale in the area.

Estimated permit fees for new home construction in El Paso County (Fabens)Varies by project valuation

Permit fees for new residential construction in El Paso County, which includes unincorporated areas like Fabens, are primarily determined by the valuation of the construction project or the square footage. A residential submittal fee deposit of $200 may also be required. Specific fee schedules outline varying costs per additional $1,000 of valuation, such as $6.75 for projects between $5,001 and $50,000, or $8.48 for projects between $15,001 and $100,000. For precise guidance in unincorporated areas, contacting the relevant Emergency Service District (ESD) is recommended.

Average property tax rate in Fabens, TX2.01%

The median effective property tax rate in El Paso County, where Fabens, TX is located, is 2.01%. This rate is significantly higher than the national median property tax rate of 1.02%. Property taxes in Texas are set by local governments to fund services like schools and streets, as there is no state property tax.

Median household income in Fabens, TX$42,524

The median household income in Fabens, TX was $42,524 in 2023. This represents a growth from $35,785 in the previous year (2022) and is based on recent data from 2019-2023.