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.
May 10, 2023Building a home on your own land or on land you buy in conjunction with the mortgage is a smart move for those who want more control over the features in their home, don't want to compete with other buyers, and may hate the negotiation process with a seller. An FHA or VA One-Time Close Construction Loan can be a great alternative to buying someone else's house. What should you know about these loans before you commit?
May 3, 2023If you want to build a home from the ground up using a VA One-Time Close mortgage or an FHA One-Time Close Construction Loan, there are some things you can do to buy with greater peace of mind.
April 25, 2023When you decide to build a home with an FHA One-Time Close construction loan or its VA single-close equivalent, you've chosen a more complex path to a new home than buying existing construction, but it is a journey worth taking. How do construction loans differ from mortgages used to buy existing properties?
April 18, 2023If you want to build a home with a One-Time Close construction loan and are new to the process, there are some things to watch out for. Do you know when a contractor proposes a legitimate workaround to a problem compared to taking a possibly illegal shortcut? Keep reading; we explore some of those scenarios below.
April 11, 2023Why choose an FHA or VA One-Time Close Construction Loan over a conventional equivalent? There are good reasons to consider doing so. Borrowers experienced with government-backed mortgages know that the interest rates can be more competitive than conventional loans thanks to the government guarantee of these loans, so why don't more people explore their options under VA and FHA single-family construction loan options?
April 4, 2023The Department of Veterans Affairs has announced changes to the VA loan funding fee, directly affecting those who want to build a home from the ground up using a VA One-Time Close construction loan.
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