One-Time Close (OTC) Construction-To-Permanent Loans

We specialize in a true FHA & VA One-Time Close Construction-To-Permanent Product

This program mirrors a regular FHA or VA loan program with the main difference being that the home is not built yet. The program combines the construction, lot purchase, and permanent loan for a new home into a single mortgage with a single closing.


One-Time Close (OTC) Program Benefits:

  • Roll home & land purchase into one loan with 3.5% down(FHA) or 0% down(VA)*
  • No money down with sufficient land equity
  • Gifts are allowable for 100% of down payment and/or closing costs. These gifts can be cash or equity in a lot. 
  • FICO® scores as low as 620
  • Much more flexible underwriting requirements compared to conventional loans, such as higher debt-to-income (DTI) ratios, etc.
  • No reserve requirement
  • No payments until construction is complete
  • No re-qualifying once the home is complete
  • Site-built, Modular, or Manufactured homes are allowed.


Apply Now to Start Building Your Dream Home!



FHA One-Time Close (OTC) Program


The FHA's One-Time Close (OTC) loans combine financing for the lot purchase, construction, and permanent mortgage into a single loan with a single closing. This loan combines the financing and closing procedures into a single mortgage with all of the benefits of an FHA loan product.


More Features of Our FHA OTC Loans:

  • The Federal Housing Administration (FHA) insures the mortgage, which helps to keep interest rates low.
  • Closing occurs before construction begins for Construction-to-Permanent loans.
  • 96.5% Maximum LTV
  • There are no payments due during the construction period.
  • Closing costs may be financed.
  • Fixed rates of 15 and 30 years are available.
  • There will be no re-qualification after construction is completed.
  • Closing costs are reduced with a single closing, saving borrowers money.
  • It is acceptable to have a less-than-perfect credit rating.

Apply Now for an FHA OTC Loan



VA One-Time Close (OTC) Program


Our VA One-Time Close (OTC) loans are a perfect opportunity to start fresh.

They’re designed specifically for retired to active military members who are building their own homes from scratch. We simplify your financing by combining both the entire cost of construction and permanent financing all in one loan. We’ll help everything go smoothly as you open this exciting new door. 

More Features of Our VA OTC Loans:

  • Offered to veterans, service members or surviving spouses
  • One closing, and one round of qualification for land and construction
  • Zero down payment required*
  • No monthly mortgage insurance required
  • No payments until construction is completed

Apply Now for a VA OTC Loan

Start Your Home Loan Process Today

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*Closing costs and fees may still apply.

VA home loan purchases, have options for 0% down payment, No private mortgage Insurance requirements, competitive interest rates, with specific qualification requirements. VA Interest rate reduction loans (IRRRL) are only for Veterans who currently have a VA loan, current loan rate restrictions apply, and limits to recoupment of costs and fees apply. VA Cash-out Refinances are available for Veterans with or without current VA loans. Policies and guidelines may vary and are subject to the individual borrower(s) qualification. Program and Lender overlays apply.

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