One Time Close FHA/VA/USDA
Why worry about re-qualifying or incurring additional costs? Designed for Manufactured, Modular, and Stick Built housing, This program offers an all-in-one financing option for construction, lot purchase, and permanent mortgage funding with one closing. Because the permanent loan is closed before construction begins, there is no need to re-qualify the borrower simplifying the construction and purchase process.
Max LTV 96.5% through USDA or VA (not including the funding fee)
No payment due from borrower during construction
No re-qualification once construction is complete
Single closing reduces total costs
Available through FHA, VA and USDA
620 minimum qualifying credit score
15 and 30 year fixed rates available
1 Unit single family residences, doublewide and triplewide manufactured homes and modular homes permitted.