Why settle for a pre-existing home when you can design and build a house that meets your exact needs? A one-time close new construction loan simplifies the process by combining construction and permanent financing into a single loan. This streamlined approach saves time, reduces costs, and eliminates the hassle of securing multiple loans.
What Is a One-Time Close New Construction Loan?
A one-time close new construction loan (also called a single-close construction-to-permanent loan) combines financing for land purchase, home construction, and the final mortgage into one loan. Instead of taking out a separate construction loan and a traditional mortgage, this loan covers both, reducing paperwork and closing costs.
With this financing option, borrowers avoid the complexity of managing two loans and multiple approvals. It also provides a fixed interest rate from the start, offering stability during the home-building process. If you want full control over your home’s design, contractor selection, and construction timeline, a new construction loan is an ideal solution.
Benefits of a One-Time Close Construction Loan
| Benefit | How It Helps You |
| Lower Costs | One closing means a single set of closing costs, saving time and money. |
| Custom Home Design | Build the home you truly want without making compromises. |
| Low Down Payment | Conventional loans require as little as 5% down, while VA loans offer 0% down. |
| Simplified Process | A single approval covers both the construction and permanent mortgage. |
| Modify Down Option | If interest rates drop after construction, you can secure a lower rate. |
| Flexible Build-Period Payments | Conventional borrowers make interest-only payments, while VA borrowers pay nothing during construction. |
| Fewer Out-of-Pocket Expenses | The mortgage covers the build, reducing upfront costs. |
Get Started on Your New Home Today
At Loan Pronto, we make it easier to finance and build your dream home. Our one-time close new construction loan provides a seamless, cost-effective way to secure financing with one approval, one closing, and a low down payment.
Want to see how much you can afford? Get a free rate quote or apply online today to start your home-building journey. Use our mortgage and amortization calculators to estimate your monthly payment, including interest, taxes, and insurance.
Skip the hassle and take the first step toward your custom-built home today!
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