ONE-TIME CLOSE

CONSTRUCTION-TO-PERMANENT LOAN

Program Summary

For manufactured, modular, and stick built properties: finance the construction, lot purchase, and permanent mortgage all with a single One-Time Close loan. No Re-Qualification. No Second Appraisal.

 

Construction

MORE ABOUT ONE-TIME CLOSE

Why worry about re-qualifying or incurring additional costs? Designed for manufactured, modular, and stick built housing, this program offers an all-in-one financing option for construction, lot purchase, and permanent mortgage funding with one closing. Because the permanent loan is closed before construction begins, there is no need to re-qualify the borrower, simplifying the construction and purchase process.

 

PROGRAM BENEFITS

  • Up to 96.5% LTV through FHA or 100% LTV through VA (not including the funding fee)
  • No payments due from borrower during construction
  • No re-qualification once construction is complete
  • Single closing reduces total costs

FINANCING ELIGIBILITY

  • Available through FHA and VA
  • 620 minimum qualifying credit score
  • 15 and 30 Year Fixed Rates available
  • 1 Unit Single Family Residences, Doublewide and Triplewide Manufactured Homes and Modular Homes permitted