One Time Close Construction to Permanent Residential Mortgage Site Built

Single close loan home construction including lot purchase. No re-qualification or second appraisal

Having your home built the way you want is a luxury few home owners ever get, or even think about. Our OTC program makes custom home ownership possible with an FHA loan designed for new home construction

Own your land and are ready to build? Been talking to builders and the uncertain cost and risk with hard to locate construction loans is just too much? Why worry about re-qualifying or incurring additional costs? This program offers an all-in-one financing option for construction, lot purchase and permanent mortgage funding with on closing. Because the permanent loan is closed before construction begins, there is no need to re-qualify, simplifying the construction and purchase process.

Financing eligibility

• Conventional, FHA and VA options

Maximum LTV

  • Freddie Mac 90% LTV -Declining or No MI (78% LTV)
  • FHA 96.5% 
  • USDA 100% of market value
  • VA 100% not including the VA funding fee


  • 620 Minimum FHA
  • 700 Minimum Conventional 


Eligible terms

      • Conventional 15, 20 and 30 year fully amortized fixed
      • FHA: 15 and 30 year fully amortized fixed 
      • USDA: 30 year fully amortized fixed
      • VA: 15 and 30 year fully amortized fixed

Eligible Property Types

      • 1 unit stick built
      • Multi-wide manufactured homes

Site Built Draws

      • Land payoff at closing
      • Foundation
      • Framing
      • Mechanical
      • Finish

Program Highlights

      • No payments due during construction
      • No re-qualification or re-verification for borrower once construction is complete
      • Single closing reduces cost
      • Single construction fee added to cost and loan basis

Expert planning and consultation. Operating in partnership with Compadre Brokers Real Estate. For more information call 760-385-8660.