Articles, Updates, and Guidelines
The One-Time Close Construction-to-Permanent Loan is a secure, government-backed mortgage program available for one-unit stick-built primary residences, new manufactured housing for primary residences (no singlewides), and modular homes. Our articles and updates are presented to keep you informed on loan guidelines, program changes, and topics to help you build and get financing for your own home.
December 6, 2023Government agencies update the conforming loan limits for conventional and government-backed home loans every year. The 2024 loan limits issue is important for those considering their construction loan options because the updated limits could increase the borrowing power of some looking to build a house with a single closing day and a single credit check.
November 28, 2023FHA loans and VA mortgages are necessary low-to-no down payment options for first-time home buyers, and the programs are also open to other financially qualified applicants. What do you need to know about these loans? The fact that they can be used to build a new house and are not limited to existing construction sales. What is important to know about these options?
November 16, 2023Are you tempted to build a home from the ground up with an FHA construction loan or a VA One-Time Close mortgage? Building is better for some than buying existing construction but there are some important factors to consider.
November 9, 2023At the time of this writing, the FHA is preparing to release 2024 FHA loan limits for purchase loans, construction loans, and renovation mortgages. If you are building a home and are unsure what loan limits may apply to you, keep reading. We address this issue below. Some might wonder if delaying their loan application until the new year is a good idea, assuming loan limits will be higher.
November 3, 2023If you are building a home for the first time, finding the right construction loan lender for you might seem daunting, especially when comparing lenders and deciding which one has the best options. Shopping around for the right construction loan means comparing several online reputations, user reviews, and even Better Business Bureau reports in cases where you are not sure about one company or another.
October 25, 2023What do you need to know when comparing contractors on your journey to build a dream home from the ground up? If you want a One-Time Close construction loan, you will need to take a few steps in the planning stages to make sure your project is as hassle-free as possible.
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