One-Time Construction to permanent Loan (1 X Close)

The One-Time Close, FHA / VA / USDA Construction-to-Permanent loan is designed for on site (stick built) housing and also for Manufactured and Modular homes. This program offers financing option for construction, lot purchase, and permanent mortgage funding with one closing. We have the permanent loan completed and signed before construction begins, so we do not need to re-qualify the borrower after the construction loan issued.

Program Highlights

  • No payments required during the construction process
  • No re-qualification after construction has started
  • Reduces fee’s with one closing
  • Available for FHA, VA & USDA loans

How does one Qualify?

  • 580 Minimum qualifying credit score for VA / 620 Minimum qualifying credit score for FHA .
  • Fixed Terms available: 15 and 30 year terms
  • Eligible properties include: 1 unit stick primary residences, Manufactured Housing – Doublewide & Triplewides, and Modular Homes
  • 100% LTV through VA and USDA (Does not include the funding fee)
  • Max LTV for FHA  – 96.5% (not including the funding fee)

For more information on the One-Time Close mortgage loan and our other program options, contact us