ONE-TIME CLOSE CONSTRUCTION-TO-PERMANENT FHA/VA/USDA

For manufactured, modular, and stick-built properties: finance the construction, lot purchase, and permanent mortgage all with a single loan. No re-qualification. No second appraisal.

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.

FINANCING ELIGIBILITY

  • Maximum LTVs:
    • FHA: 96.5%
    • USDA: 100% of market value
    • VA: 100% not including VA funding fee
  • 620 minimum qualifying credit score

PROGRAM HIGHLIGHTS

  • No payments due from borrower during construction
  • No re-qualification once construction is complete
  • Single closing reduces total costs
  • Realtor commission generally paid-in-full at closing (prior to construction commencing)

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