One-Time Close Loans | FHA, VA, and USDA
Learn all about the VA, USDA, and FHA versions of the One-Time Close Loan.

One-Time Close Loans Available to Build Your Dream House

- Build a Home on Your Own Lot -
VA Loan - One-Time Close Construction Loan
FHA Loan - One-Time Close Construction Loan
USDA Loan - One-Time Close Construction Loan

Articles, Updates, and Guidelines

The One-Time Close Construction-to-Permanent Loan is a secure, government-backed mortgage program available for one-unit stick-built primary residences, new manufactured housing for primary residences (no singlewides), and modular homes. Our articles and updates are presented to keep you informed on loan guidelines, program changes, and topics to help you build and get financing for your own home.

One-Time Close Construction Loans: VA, FHA, USDA

There are multiple options for those who want a construction loan to build on their own land. Those who do not own land may purchase property in conjunction with the mortgage, and they can choose between several options to finance the purchase and construction.

Mortgage Rules Unique to Construction Loans

If you want to build a home on your own lot using a construction-to-permanent loan, also known as a One-Time Close mortgage or single-close construction loan, you should know that some home loan rules are different for construction loans than for existing construction mortgages.

How Much Can You Borrow to Build?

If you want to build your home instead of buying someone else’s house, there is a type of construction loan that can help. The One-Time Close construction loan eliminates the need for a second loan application and approval process compared to some other types of construction loan.

Five One-Time Close Construction Loan Tips

If you want to build a home on your own lot instead of buying an existing house, the FHA One-Time Close construction mortgage is an option to consider. FHA construction loans feature the same low down payment requirements (3.5% for qualified borrowers) as any other FHA mortgage. 

Which Construction Loan Should I Apply For?

The most important thing to know about VA One-Time Close construction loans is that unless you are either an eligible veteran with qualifying military service or a qualifying surviving spouse of a veteran who has died as a result of military service.

One-Time Close Mortgages: Fact and Fiction

There are several different types of One-Time Close loans, also known as single-close construction loans. You can apply for an FHA One-Time Close construction loan, there is a VA equivalent, and even a USDA construction loan. Construction loans are available for any financially qualified borrower.


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