One-Time Close New Construction Loans

Building a custom Florida home is an exciting project — and financing it shouldn't be more complicated than the construction itself. A one-time close new construction loan combines what would normally be two separate loans — a short-term construction loan and a permanent mortgage — into a single closing. You sign once, pay one set of closing costs, and lock in your permanent rate before the first shovel hits the dirt.

The two-close alternative forces you to qualify twice, pay two sets of fees, and gamble on rates — if rates climb between your construction start and your permanent financing, you're stuck with the higher payment. The one-time close eliminates all of that. Your interest rate is locked upfront, and once construction is finished the loan simply converts to your permanent mortgage with no second underwriting.

Whether you're building a coastal modern home in South Florida, a custom estate on a inland lot, or a primary residence to retire into, we'll coordinate with your builder and guide the draws so funds release at each construction milestone. You stay informed, your builder gets paid on schedule, and you close just once.

Who This Loan Is For

• Buyers building a custom or semi-custom Florida home from the ground up
• Landowners ready to construct on a lot they already own
• Borrowers who want to lock in their rate before construction begins
• Anyone wanting to avoid the cost and risk of two separate closings
• Families building their forever or retirement home in Florida

Basic Requirements

• 1A licensed, approved builder and a construction contract or budget
• 2Plans and specifications acceptable to the lender
• 3Down payment typically 10-20% on the total project cost
• 4Verifiable income and acceptable credit profile
• 5A Florida lot either owned or being purchased with the build