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1 X Close, Construction-to-Permanent Loan – Low Down Payment

One-Time Close (1 X Close) – Low Down Payment

New Home
New Home

No Re-Qualification. No Second Appraisal. The One-Time Close, Construction-to-Permanent loan is 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 Highlights

  • No payments due from borrower during construction
  • No re-qualification once construction is complete
  • Single closing reduces total costs
  • Available through FHA, VA and USDA delivery channels

So, How Can someone Qualify?

  • 620 Minimum qualifying credit score
  • Available in 15 and 30 year fixed terms
  • Eligible properties include 1 unit stick built primary residences, new Manufactured Housing – Doublewide and Triplewide primary residences, and Modular Homes
  • Max LTV 96.5% through FHA or 100% LTV through VA and USDA (not including the funding fee)

For more information on the One-Time Close loan and our other program options, contact me today!