One-Time Close Building Loans (OTC)

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One-Time Close Building Loans (OTC)

One-Time Close Building Loans (OTC)

The One-Time Close Building Loan Program (OTC) offers an all-in-one financing option for lot purchase, construction and permanent mortgage funding with one closing. Because the permanent loan is closed before construction begins, there is no need to re-qualify the borrower, simplifying the construction and purchase process.

The OTC loan is for FHA, VA and USDA loans. It may be used for traditional framed, manufactured or modular homes. Finance the lot purchase, construction and permanent mortgage all with a single One-Time Close loan. There is no re-qualification or second appraisal. Why worry about two loans, re-qualifying, locking a rate six to nine months after starting or incurring additional costs?