Combine financing for a lot purchase, construction and permanent financing into one loan

One-Time Close Construction Loan Quick Facts

0% Down

Minimum Down Payment


Minimum Credit Score


Max Debt-to-Income Ratio

What is the One-Time Close Construction Loan?

One-Time Close Construction Loans (OTC) are a product that allows borrowers to combine financing for a lot purchase, construction and permanent mortgage into one first mortgage loan. Ideally suited for borrowers who are purchasing new construction, the OTC loan offers the benefits of low or no money down financing, competitive interest rates and one closing for all financing. There are FHA, USDA and VA options available that eliminate the redundancy of a second closing so borrowers don’t have to worry about prequalifying or incurring additional costs.

What are the benefits of a One-Time Close Construction Loan?

One-Time Close Construction Loans offer the following features:

  • Designed to simplify the financing process for new home buyers, eliminating the need to obtain both a construction loan and permanent mortgage.
  • No payments due during the construction phase.
  • No re-qualification once construction is complete.
  • A single closing reduces closing costs, saving you money.
  • No money down options available if your property qualifies for VA or USDA financing.

Who may benefit from the One-Time Close Construction Loan?

A One-Time Close Construction Loan may the right fit for you if:

  • You’re financing the purchase of a lot and the construction of your new home simultaneously.
  • You don’t have a lot of money to put down and you’re worried about the costs incurred from multiple closings and re-qualifying for permanent financing once construction is complete.

Meet Your Mortgage Expert for
One-Time Close Construction Loan

The Mark Jones Team

Branch Manager, Producing | NMLS #513437

For the last 5 years, The Mark Jones Team has helped over 700 family’s accomplish the goal of homeownership. We continue to go above and beyond for our buyer by focusing on the experience. Ready to get started?

Corp NMLS #214519 | Equal Housing Lender


Is a One-Time Close Construction Loan right for you?

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