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.

Construction Loans for New Borrowers

Did you know that even as a first time borrower, you may be eligible for a One-Time Close construction loan that allows the borrower to build a home on their own lot rather than buying an existing house?

How One-Time Close Loans Differ From Existing Construction Loans

The FHA One-Time Close construction loan, the VA equivalent of it, USDA construction loans, and even conventional construction mortgages all have features that make them different than existing construction loans.

Build a House on Your Own Land

FHA home loan rules in HUD 4000.1 include a section titled “Building on Own Land”.  Are you interested in having a house built for you on your own lot instead of having to choose from existing construction housing?

Are There Loan Limits for One-Time Close Loans?

Is there really a construction loan that lets you build a house on your own lot with no loan limit? Believe it or not, such a loan DOES exist. It’s the VA Construction Loan, which can be offered as an OTC mortgage featuring only one mortgage application and loan closing date.

Start Early, Save More, and Prepare for Your Construction Loan

There are VA, FHA, and even USDA One-Time Close loans, and whichever type you choose, you have the advantage of a government-backed mortgage with a lower down payment requirement (3.5% minimum) than non-government-backed mortgages.

How FICO Scores Affect One-Time Close Loan Approvals

One-Time Close loans are offered to qualified home buyers (first-time buyers or experienced home owners) who want to build a home on their own land. One-Time Close (OTC) mortgages allow you to build from the ground up instead of buying an existing home.

One-Time Close Construction Loans for Veterans

Veterans have multiple options when it comes to deciding which type of One-Time Close construction loan to choose from. Naturally, any veteran who has the entitlement to use a VA mortgage for this loan would choose to do so based on the zero down home loan option all by itself.

Loan Advice for People Building Their Own Homes

A One-Time Close construction loan is designed to let you build a house on your own lot instead of buying an existing property. Do you want to design and build your own home using professional contractors and plans created by a professional?

Mortgage Payments for Your Construction Loan

These loans are meant to streamline the construction loan process by eliminating the need for a separate loan to build the home, reducing two applications, two loan approvals, and two closing dates into a single loan with one closing process and no worries about being denied for the second loan.

One-Time Close Construction Loans: What You Need to Apply

FHA One-Time Close construction loans are intended to help those who want to own and occupy a home to build one from the ground up on their own land. There is also a VA loan equivalent to the FHA construction loan that, starting in 2020, features no down payment in most cases AND the ability to build a home from the ground up with no VA loan guaranty limit.

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