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Loan Program

Construction Home Loans

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Is a construction mortgage loan right for you?

A Single Close Construction to Permanent loan is a home mortgage that can be used to close both the construction loan and permanent financing of a new home at the same time. They are sometimes referred to as “construction to perm”, “single close”, “one time close”, “construction conversion,” “CTP”, or even “all in one” loans. If you’re looking to build a home, this could be the right loan for you!

Mortgage Loan

Benefits of a construction mortgage loan

A single close transaction with no re-qualification after completion and no second closing with additional closing costs.

  • Available for single-family, primary residence homes
  • Permanent financing guaranteed up-front for you
  • 0-5% down payment, financing options available
  • Fannie Mae, FHA, VA and USDA loan products available
  • Available for manufactured, modular, or a stick-built home
  • Build your dream home on your land

How does a construction mortgage work?

The Single Close Construction loan offers both the interim construction loan and the permanent 30-year loan under one promissory note and one deed of trust with a single loan closing.

You would sign a 30 year amortizing promissory note at closing. At this time, any land liens will be paid off in addition to a first draw amount for the builder to begin construction. Upon completion of construction, the loan modification to amend the first payment date will be sent to you for your signature.

After loan closing, our construction management team will handle the construction administration including draw requests and inspections. They will follow the project through completion. You will need to sign off on final draw.

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