Construction Mortgage Loans

One-Time Close (OTC) Construction Loans

Unlike traditional construction loans, which require a second credit qualification and closing before the loan converts to a permanent mortgage, we offer a One-Time Close loan which converts to a permanent mortgage in a single closing. This means no second closing, saving time and money. Available for stick-built, modular and manufactured homes, this program also contains fewer limits on property types and permanent mortgage options.

One-Time Close Process

This type of loan has additional steps involved beyond the traditional mortgage process.

  • 1
    Builder Approval
  • 2
    Loan Structuring
  • 3
  • 4
  • 5
  • Done!

Builder Approval

During this step your selected builder is registered and approved through a third party investor. There is a Registration Packet that will be provided to the builder to complete prior to approval.


Loan Structuring

During this step we will work with your builder to determine the costs of your project and prepare your initial disclosures.

Project Packet

A packet will be provided to your builder to complete all the details of your project including costs and contingencies.


After all aspects of your project are signed off on an initial disclosure package will be provided to you for review and signature. This is your loan application.


An appraiser will be assigned to perform the estimated value of your project upon completion.

While we are waiting for your Appraisal to come back our team will be working hard behind the scenes. At this stage we are tidying up your file and ensuring that all guidelines are fulfilled & documented. The documentation you provided earlier will be verified and anything missing will be requested. You may hear from one of our Processors at this stage.

Previous Next


After all documentation is provided your file will go into underwriting which will eventually result in a loan approval. This approval may come with additional documentation requirements that must be satisfied. We will work with you to ensure everything needed is obtained.

Previous Next


Once everything has been signed off on we can now move on to closing your loan. This process takes about 30 minutes and should be relatively painless.

Previous Next


Now the fun can start! After closing our investor will work directly with your builder to manage draw requests, ongoing inspections and disbursements as required.

Previous Done!

Construction Complete!

Once your new home is completed, a final inspection will be performed to insure that all items are complete and satisfactory. The final funds are then disbursed and you can move into your new home.

Your mortgage payments will begin after this stage.


Loan Type Options

Ready to get started?

Discover the Advantage of Local Lending