VA One-Time Close Construction Loan
Connect with a VA Loan Expert
VA One-Time Close Construction Loan
Connect with a VA Loan Expert
What is the VA One-Time Close Construction Loan?
A VA One-Time Close Construction Loan (sometimes called a VA Construction-to-Permanent Loan) is a mortgage designed for eligible veterans, active-duty service members, and certain surviving spouses that combines construction financing and the permanent VA mortgage into a single loan and a single closing.
How It Works
Instead of obtaining:
- A construction loan to build the home, and then
- A separate mortgage after construction is complete,
a VA One-Time Close loan does both at once. You close only once before construction begins, and when the home is finished, the loan automatically converts to a permanent VA mortgage.
Key Benefits
- One closing instead of two, which can reduce fees and paperwork.
- Potentially no down payment (if you have full VA entitlement and meet requirements.
- No private mortgage insurance (PMI), unlike many conventional loans with low down payments.
- Locked financing upfront, reducing uncertainty about qualifying for a mortgage after construction.
Take the next step today!
Explore if the VA One-Time Close Construction Loan is right for you and start your journey toward building your dream home. Reach out to learn more about your options and get expert guidance through the process.