ONE-TIME CLOSE CONSTRUCTION-TO-PERMANENT LOAN
ONE-TIME CLOSE CONSTRUCTION-TO-PERMANENT LOAN
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.
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 HIGHLIGHTS
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Max LTV 96.5% through FHA or 100% LTV
through USDA or VA (not including the funding fee)
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No payments due from borrower during construction
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No re-qualification once construction is complete
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Single closing reduces total costs
FINANCING ELIGIBILITY
• Available through FHA, VA and, USDA • 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
* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.