One Time Close Construction Loans

Cascade offers Portfolio land/Home, FHA, and VA Stage funded construction loans. Construction financing allows the buyer to build the home of their choice on land they are purchasing or on land they already own. Our one-time close structure protects both the buyer and the home builder.

Quickly Review Our One-time close construction Loan Program Benefits & Highlights. Available through FHA, VA, & USDA, in all 50 states. max LTV 96.5% through FHA or 100% LTV through USDA or VA (not including the funding fee).

Some lenders offer comprehensive one-time-close construction loans that let you buy the land, build the house, and convert to a standard mortgage – all with one approval, one closing, and one set of fees. In most cases, lenders will lend up to 75% to 80% of the value of the finished home (and land), as long as you qualify for the loan amount.

Construction-to-permanent – Often referred to as the " one-time-close " or the "single-close" construction loan program. It combines the cost to purchase the land and construction cost in one loan. It’s two separate loans consolidated into one loan. A borrower qualifies for a long-term mortgage only once.

A one time close construction loan usually only requires one appraisal prior to closing the loan. This means no surprises when the house is completed. A Note On Mechanics Liens. This is an issue that no one really likes to talk about. An intervening lien is what occurs when a borrower obtains a two-time close transaction that does not convert.

How Do Construction Loans Work

Interest and other costs associated with a construction loan obtained by the Borrower to fund construction. learn More About FHA One-Time Close Construction Loans We have done extensive research on FHA One-Time Close mortgages and spoke directly to these licensed lenders for most states.

The One-Time Close (OTC) Construction Loan is a home mortgage that can be used by the borrower to close both the construction loan and the permanent financing of a new home at the same time. The loan is closed one-time, upfront, before any construction begins simplifying the process and saving money.

One Time Close Construction Loan from Trulend Mortgage in Alabama for new construction, renovation and repair. Learn more about construction & renovation loans.

Construction Loans Are Typically New Construction Loans We’ll help you build it. RBFCU offers one-time close construction loans with flexible terms, designed to help you finance the building of your new home. These loans offer a short-term, fixed-rate construction period which converts to a permanent fixed-rate mortgage upon completion of construction.