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The FHA One-Time Close Loan allows borrowers to finance the construction, lot purchase, and permanent loan into a single mortgage. It provides for a single all-at-once closing with a minimum down payment of 3.5 percent. Avaliable loans vary based on FHA county lending limits.

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January 21, 2019
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FHA One-Time Close Loans

Financing for Construction, Lot Purchase, and a Permanent Mortgage

FHA One-Time-Close Loans

The FHA One-Time Close Loan is a secure, government-backed mortgage program available for one-unit, stick-built primary residences, new manufactured housing for primary residences (excludes single wide mobile homes), and modular homes.

It allows borrowers to finance for the construction, lot purchase (if necessary), and permanent loan into a single mortgage. It provides for a single all-at-once closing with a minimum down payment of 3.5 percent (up to your FHA county lending limit).


About the FHA One-Time Close Program

About FHA One-Time Close Loans

The One-Time Close Loan gives buyers a new option -- a single loan with one single closing date, and a defined set of parameters for how the loan is to proceed during the construction phase and beyond.

Most construction loans require two separate closings—once to qualify for the construction itself, and again when converting into a permanent mortgage. The One-Time Close Loan gives buyers a new option.


One-Time Close - Buyer Benefits

FHA One-Time Close Loans: Buyer Benefits

Many potential borrowers aren't aware that they have the option of building their dream home as a part of one, consolidated home loan. The FHA One-Time Close Loan offers them a number of advantages to avail in doing so.

Homebuyers can also take advantage of the FHA’s lenient qualifications, such as easy credit qualifying for scores, more flexible guidelines for homebuyers’ work histories, small escrow reserve requirements, and debt-to-income ratios up to 50 percent.


One-Time Close - Builder Benefits

FHA One-Time Close Loans: Builder Benefits

The FHA Construction-to-Permanent program helps contractors with a smooth, start-to-finish process that allows consumers to purchase and build a home according to their liking, all in a single mortgage.

Sellers and builders can make contributions of up to 6 percent toward the homebuyer’s closing costs and prepaid items. Any contribution funds beyond that are reduced, dollar-for-dollar, from the loan amount.


Contact Us About One-Time Close Loan Opportunities

We have done extensive research on both the FHA One-Time Close Construction program as well as the VA (Department of Veterans Affairs) One-Time Close Construction program. We spoke directly to the licensed lenders that originate these residential loan types in most states. These are qualified mortgage loan officers who work for lenders that know the product well. Each company has supplied us the guidelines for their product. If you are interested in being contacted by one licensed lender in your area, please respond to the below questions to save time. All information is treated confidentially.

Your response to onetimeclose@fha.com authorizes FHA.com to share your personal information with a licensed mortgage lender licensed in your area to contact you.

Please note that investor guidelines for the FHA and VA One-Time Close Construction Program only allows for single family dwellings (1 unit) – and NOT for multifamily units (no duplexes, triplexes or fourplexes).

  1. Send your first and last name, e-mail address, and contact telephone number.
  2. Tell us the city and state of the proposed property.
  3. Tell us your credit score and/or the Co-borrower’s credit score, if known. 620 is the minimum qualifying credit score for this product.
  4. Are you or your spouse (Co-borrower) eligible veterans? If either of you are eligible veteran’s, the down payment is $0 up to the maximum VA lending limit for your county. If not, the FHA down payment is 3.5% up to the maximum FHA lending limit for your county.

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FHA Loan Articles and Mortgage News

Are FHA Home Loans Available During a Government Shutdown?

January 16, 2019 - Are FHA home loans, which are government-backed mortgages offered by participating commercial lenders, still available during a government shutdown or partial shutdown? This is an important question and borrowers or potential borrowers should know the facts.

FHA One-Time Close Construction Loan Rules for 2019

January 11, 2019 - FHA One-Time Close construction loans are available in 2019 at higher FHA loan limits than in 2018. This is good news for anyone who wants a low-down payment construction loan that features only ONE application and closing date.

FHA Loans, Air-B-n-B, and Rental Units

January 8, 2019 - The sharing economy has made entrepreneurs out of many who never thought of earning income by being an Uber driver or acting as an Airbnb host. Some are tempted to buy a multi-unit home and begin offering it for rent to Airbnb users. Is this possible with an FHA mortgage?

Do Higher FHA Loan Limits in 2019 Mean Higher Credit Requirements?

January 4, 2019 - FHA loan limits are going up for the second year in a row. In 2019 your ability to buy a 1-4 unit home gets a boost thanks to the higher limits. FHA loan FICO score requirements and other credit rules of the program will NOT change in 2019.

When Does a Bigger Down Payment Make Sense?

January 2, 2019 - If you’re looking at home loan options, especially for the first time, you might wonder why some buyers choose to pay more out of pocket up front on their mortgage loans rather than making the bare minimum down payment and financing closing costs.

FHA.com Reviews

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!