Construction Loans

The One-Time Close Loan is a mortgage program that combines the construction, lot purchase, and permanent loan for a new home into a single mortgage with a single closing.

A home construction loan is a short-term, higher-interest loan used to finance the construction of a residential property. Construction loans are typically for one year. During this time, the property must be constructed and a certificate of occupancy issued.

A home renovation loan is based on one key factor: the value of the home after renovation. Renovation loans calculate how much a homeowner can borrow based on a home's estimated after-renovation value rather than its current home value. This gives homeowners credit for the increase in home value caused by the proposed renovation.