One Time Close Construction Loans

Construction Loans on the Cheap!

Get a FREE quote on construction loans & save thousands of dollars per year.

We have more opportunities for homeownership
Available for manufactured, modular, and stick-built homes, OTC provides financing opportunities to homebuyers who didn’t think they could afford a new home.

We have something for everyone
FHA, VA, USDA, and Conventional OTC programs are available, so we can offer a variety of programs to our eligible borrowers

More borrowers can qualify with our many options
Flexible eligibility options may provide opportunities to even more borrowers!

FHA: 96.5% Max LTV
VA: 100% not including VA funding fee Max LTV
USDA: 100% of market value Max LTV
Conventional: 90%, or up to 97% when an eligible CHOICEHome℠property is combined with the HomePossible® or HomeOne program(s)
Credit scores as low as 620

One-Time Close simplifies the construction loan process, which benefits all parties involved. Some of the advantages to an OTC loan include:

Options to have no payments due from borrower during construction
Generally no re-qualification once the borrower is approved and no property value recertification required (FHA, VA, and USDA)
Single close reduces total closing costs
Single construction administration fee which includes: construction interest, construction draw inspections, construction closing coordination, construction underwriting, and title updates