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.
February 2, 2024Are you unsure if a One-Time Close construction loan is the right choice in 2024? Building is better than buying for some, and if you feel that describes you, there are some steps to take when looking for the right VA or FHA single-close lender, especially if you are considering a conventional version of the loan. Comparison shop, and know your options before you commit to a specific lender.
February 1, 2024There is a FHA / VA government backed One-Time Close construction to permanent loan program available in Illinois for qualified applicants who are looking to build a brand-new home versus a resale. Due to local housing shortages, this is a great time to consider building your dream home.
January 25, 2024Do your mortgage loan options seem confusing? Home loan types and the application of those home loans have their own time frames and cost considerations. You'll want to know the details of each option and decide whether you're right for building or buying existing real estate. Building and renovating typically cost a bit more than buying an existing home. For those not in a hurry, the options below each have their own advantages.
January 18, 2024How do borrowers go about finding the best interest rates for a One-Time Close construction loan? Construction loans are typically more expensive than purchase loans for existing construction, and finding the most competitive mortgage loan rate is an important part of making smart home loan choices.
January 17, 2024Since trying to purchase a resale with multiple offers is a difficult task these days, now may be the right time to learn about the FHA and VA One-Time Close mortgage and build a home that suits your exact needs.
January 11, 2024The Federal Reserve Bank of St. Louis estimates there were just under 18 million veterans in 2023. Add to that number of members of the Guard and Reserve, and you get approximately 19 million 360 thousand people. What do they need to know before taking advantage of their VA home loan benefits or the FHA One-Time Close construction loan program to build a home on their lot or land they buy with the loan?
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