One-Time Close Loans | FHA and VA Construction Loans
Build Your Dream Home With a One-Time Close Construction Loan

This Single Close Loan gets you from construction to occupancy with one mortgage in a streamlined process.

8 Important Topics About One-Time-Close Loans
Billy the Beaver likes One-Time Close Loans

Learn About FHA and VA Construction Loans

Find out how you can build a home on land you already own.


If you've decided to have your new home built from scratch, you might be wondering how to finance the construction and purchase. This Single Close Loan gets you from construction to occupancy with one mortgage in a streamlined process.

PDF Download: One-Time Close 101

Low Down Payment Loans Available

The One-Time Close Loan is a mortgage program that finances the construction, lot purchase, and permanent loan of a new home, all wrapped up in a single mortgage with a single closing.

VA Loan - One-Time Close Construction Loan
FHA Loan - One-Time Close Construction Loan
See Your Credit Scores From All 3 Bureaus

Previously, most construction loans required two separate closings, as well as a re-qualification process. The One-Time Close Loan helps you avoid the extra step, saving you time and money. And with Single Close Loans available through the VA and FHA, having your new home built on your own land is easier than before!

Articles, Updates, and Guidelines
OTC articles
One-Time Close Mortgage Scams

Major lenders are publishing warnings to One-Time Close borrowers and other mortgage applicants. These warnings are about sophisticated scams designed to fool even the most security-minded borrower, and there are important steps you should take in conjunction with your One-Time Close loan officer to avoid being swindled out of your cash to close.

How Long To Wait Before You Apply For A Construction Loan

The headline of this article might make some ask, “How long must I wait to apply for a construction loan after...what?” And there are several answers you should know about. The key here is to understand loan program standards and lender requirements equally.

Build On Your Own Lot in Georgia with an FHA / VA Construction Loan

In 2024, the FHA floor in the State of GA was increased to $498,257 and the FHA ceiling was increased to  $649,750 for single-family home loans in the State of GA.  Now may be the time to start looking into building a home that suits your exact needs.  Residents in Georgia are finding out that they can utilize these low-down payment construction programs in order to build a new home with the same underwriting guidelines and qualifications as if they were purchasing a resale.  Learn more about One-Time Close construction mortgages.  


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Non-Allowable Properties

The following home property types are excluded from the program, meaning that you won't be able to use the One-Time Close loan for financing:

Kit Homes

Steel framing kits for metal buildings that are assembled on site.

Barndominiums

Metal structures that combine living quarters with traditional barn space.

Log Cabin Homes

Pre-cut kits for log buildings that are assembled on site.

Shipping Container Homes

A dwelling made from a steel container otherwise used for shipping

Stilt Homes

Houses raised on piles over land or a body of water.

Solar Only or Wind Only Powered Homes

Homes that are powered on-site solely by solar panels or solely by wind turbines.

Dome Homes

Homes made in the shape of a sphere utilizing shell framework.

Bermed Earth Sheltered Homes

Homes with earth (soil) against the walls, roof or buried underground.

Tiny Homes

Homes that are 600 square feet or less.

Accessory Dwelling Units

Additional living quarters that are independent of the primary dwelling.

A-Framed Houses

Building with a tall triangular roof that resembles the letter A.

The primary reason for these exclusions is that all non-regular homes are considered unique properties and hard to get comps for under VA and FHA. These homes require specialized construction techniques, making it even more important that a single builder starts and finishes a project. If the builder were to quit before a job is finished, the lender would need to step in and find a replacement. This can be more difficult than usual due to the specific nature of the work.

OneTimeClose.com is not a government agency. We do not offer or have any affiliation with loan modification, foreclosure prevention, payday loan, or short term loan services. Neither OneTimeClose.com nor its advertisers charge a fee or require anything other than a submission of qualifying information for comparison shopping ads. We do not ask users to surrender or transfer title. We do not ask users to bypass their lender. We encourage users to contact their lawyers, credit counselors, lenders, and housing counselors.

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One and Won is a registered trademark of Texcorp Mortgage Bankers, Inc.

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