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.
One-time Close for Buyers
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)
ELIGIBLE TERMS & PROPERTY TYPES
- New multi-wide manufactured housing, modular housing, 1 -unit stick-built housing
- FHA: 15- and 30-year fully amortized fixed
- USDA: 30-year fully amortized fixed
- VA: 15- and 30-year fully amortized fixed
SINGLE CONSTRUCTION ADMIN FEE
This fee includes:
- Construction Interest
- Construction Draw Inspections
- Construction Closing Coordination
- Construction Underwriting
- Title Updates