Model
The Jasmine
Timeless curb appeal with warm architectural details, stone accents, and an open, family friendly layout designed for everyday living.
Build This HomeFinance · Construction Loan Program
Construction to Permanent Loans.
One Loan. One Closing.
A construction to permanent loan finances your lot, the build, and your long term mortgage in a single loan that converts automatically when your home is complete. One approval, one closing, one set of costs.
1
Loan and one closing
Interest only
Payments during the build
Fixed
Permanent rate options
What it is
Build now and finance for the long term, all in one loan.
A construction to permanent loan, sometimes called a single close or one time close construction loan, combines two financings into one. It covers the cost to build your home and then converts into your permanent mortgage once construction is finished.
Because there is only one closing, you sign once, pay one set of closing costs, and avoid the risk of requalifying for a separate mortgage after the build. During construction you typically make interest only payments on the funds drawn, then begin regular principal and interest payments when the home is complete.
Why buyers choose construction to permanent
One closing, one set of costs
Finance the land, the build, and the permanent mortgage together, so you close once instead of twice and avoid a second round of closing costs.
Interest only during the build
During construction you generally pay interest only on the money that has been drawn, which keeps payments lower while your home is being built.
Rate protection options
Many programs let you lock your permanent rate up front or offer a float down option, giving you protection while construction is underway.
Automatic conversion
When the build is complete the loan converts to your permanent mortgage with no second application and no second closing.
Construction loan options at a glance
| Option | What it does | Best for |
|---|---|---|
| Single close construction to perm | One loan and one closing that converts to permanent | Buyers who want a single closing |
| Two time close construction | A separate build loan, then a new mortgage | Buyers who plan to shop the permanent loan later |
| Government construction (FHA, VA, USDA) | Single close options backed by federal programs | Eligible low down payment or veteran buyers |
| Renovation loan | Buy an existing home and finance improvements | Homes that need work rather than a full build |
A construction to permanent loan may fit if you are…
- Building a new home on a lot you own or plan to buy
- Working with a licensed builder on a ground up construction project
- Hoping to avoid a second closing and a second set of costs
- Looking to lock or protect your permanent rate before the build finishes
- Comfortable making interest only payments during construction
Home Designs
Move In Ready Floor Plans You Can Build
Not sure where to start? Begin with one of our proven home designs. Build the Jasmine or the Railyn on your lot, or use them as a starting point for a fully custom home. Ask us for floor plans, square footage, and current pricing.
Model
The Railyn
Clean lines, bright open spaces, and a fresh modern feel, designed for comfortable, low maintenance Florida living.
Build This HomeCommon questions
Construction to permanent loan FAQ
What is the difference between single close and two time close?
A single close, or one time close, construction to permanent loan uses one loan and one closing for both the build and the permanent mortgage. A two time close uses a separate construction loan first, then a new mortgage after the home is finished, which means two applications and two sets of closing costs.
Do I need to own the land first?
Not necessarily. Many construction to permanent loans can include the cost to purchase the lot in the same loan, or you can use land you already own as part of your equity. Your loan advisor can review both paths with you.
How do payments work during construction?
Funds are released to your builder in stages, called draws, as work is completed and inspected. You generally pay interest only on the amount drawn so far during the build, then begin full principal and interest payments once the loan converts to permanent.
Can I lock my interest rate before the home is finished?
Often, yes. Many programs offer an extended rate lock for construction to permanent loans, and some include a float down option so you can benefit if rates improve before completion. Terms vary by lender and program.
What do I need to qualify?
Requirements vary, but lenders generally review your credit, income, and down payment along with the builder, the construction contract, the plans, and an appraisal based on the finished value of the home. A licensed advisor can walk you through the documents for your situation.
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Start your construction loan review
Share a few details and a licensed mortgage advisor will walk through your construction to permanent options and next steps. No pressure, no obligation.
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