Build the home you want with one closing.
Construction financing simplified. A single loan that covers your land, your build, and your permanent mortgage - one approval, one set of fees, one signing.
A one-time close construction loan - also called a single-close or construction-to-permanent loan - combines the financing for land acquisition, home construction, and your final permanent mortgage into a single transaction. Unlike traditional construction lending which requires two separate closings, this program locks your long-term rate and final approval before the first shovel hits the ground.
Throughout the build, you typically pay interest only on the funds your builder draws, protecting cash flow while the home is under construction. When the certificate of occupancy is issued, the loan automatically converts to a permanent mortgage - no additional paperwork, no re-qualifying, no second appraisal. It's the most efficient path for families in Maine and Florida to custom-build.
Two states. One process.
Licensed and active in every county across Maine and Florida.
Four single-close programs.
A conventional single-close construction-to-permanent loan combines lot, build, and permanent mortgage into one approval and one closing for qualifying borrowers.
FHA's single-close construction-to-permanent program lets eligible borrowers build a new primary residence with a low down payment and one set of closing costs.
VA's single-close construction loan lets eligible veterans and service members build a primary residence with VA-eligible financing and one closing.
USDA's Single-Close Construction-to-Permanent program supports new builds in USDA-eligible rural areas with one closing and no down payment for qualifying borrowers.
From pre-qualification to permanent mortgage - no second closing.
Pre-Qualify
Credit, income, and project budget reviewed up front so you know what you can build.
Approve the Build
Builder credentials and plans vetted in one streamlined underwriting pass.
Single Closing
Sign once. The closing funds your lot and your construction draws.
Construction
Interest-only payments on funds drawn, with inspected milestone draws to your builder.
Conversion
When the home is finished, your loan automatically rolls into a permanent mortgage.
Less paperwork, less risk, fewer fees.
One set of closing costs
Avoid the redundant lender fees, appraisal costs, and title work of a two-step loan.
Land equity counts
Already own your lot? The value of that land typically credits toward your down payment.
Interest-only build phase
Manage cash flow during construction with payments based only on what's been drawn.
Approved once
Credit and income verified at the start. No re-qualifying when construction wraps.
One-Time Close Construction Loan Questions
- What is a one-time close construction loan?
- It is one loan that covers your construction period and your permanent mortgage with a single closing. You sign once, lock once, and roll straight from building into your long-term loan without a second application or a second set of closing costs.
- How is a one-time close different from a two-time close?
- A one-time close wraps construction and the permanent mortgage into one loan and one closing. A two-time close is two separate loans, two approvals, and two sets of fees, with the risk that rates or your qualification change before the second closing.
- Can I get a one-time close construction loan in Maine or Florida?
- Yes. I broker one-time close construction loans in Maine and Florida. I match your file to the lender and program that fits the build, the lot, and your timeline.
- When does my interest rate lock on a one-time close loan?
- You lock once, up front, at your single closing. That rate carries through construction and into your permanent mortgage, so a rate move during the build does not reset your loan.
- How long does the construction loan process take?
- It depends on your builder, your plans, and the appraisal, but most files move from application to closing in a similar window to a standard purchase once the build details are in hand. I stay in the deal from application to keys.
- Why work with Home Loan GOAT on a construction loan?
- You work directly with Travis Penny, a mortgage broker licensed in Maine and Florida since 2004, NMLS ID 1649161. As a broker I shop your file across multiple construction lenders instead of forcing you into one bank's product.
Nothing here is a commitment to lend or an offer of credit. All loans are subject to credit and underwriting approval. Equal Housing Opportunity.
Ready to build?
Tell us about your project - lot, builder, timeline - and we'll route you to the right one-time close program.