Conventional
Conventional One-Time Close Construction Loan
Fits: Borrowers with strong credit and documented income who want maximum flexibility on property type, build cost, and loan structure (fixed or ARM).
Who it's for
Who qualifies - and what to bring to pre-qualification.
One-time close construction loans come in four flavors. Each fits a different borrower profile. Here's an overview, plus what to have ready when you start.
Programs
The four single-close paths.
FHA
FHA One-Time Close Construction Loan
Fits: Borrowers who qualify for FHA financing and want to build a primary residence with a lower down-payment requirement than conventional.
FHA construction programs follow HUD construction guidelines. Program availability depends on the desk underwriting your file.
VA
VA One-Time Close Construction Loan
Fits: Eligible veterans, active-duty service members, and qualifying surviving spouses with VA entitlement who want to build a primary residence.
VA construction loans require VA-approved builders and adherence to VA appraisal and inspection standards.
USDA
USDA One-Time Close Construction Loan
Fits: Borrowers building a primary residence on an eligible lot in a USDA-designated rural area, with household income at or below program limits.
USDA eligibility is location-specific - the lot must sit in a USDA-designated rural area. Major metro cores typically do not qualify. We can check your specific address against USDA's eligibility map before you commit.
Bring to pre-qualification
Speeds up the first conversation.
- Two years of W-2s or tax returns (self-employed: two years business and personal returns)
- Two most recent pay stubs and bank statements
- A purchase agreement for the lot, or proof of ownership if land is already yours
- Preliminary plans and the construction contract (or builder estimate)
- Builder contact info (we'll handle builder vetting from there)
Start the conversation
Ready to build?
Tell us about your project - lot, builder, timeline - and we'll route you to the right one-time close program.