New Home Construction Loans

Construction-to-permanent financing

Our one-time close (OTC) home loan option is designed to help you borrow just what you need to build the home of your dreams.


One-time close loan

For new construction or a major remodel of a primary or secondary residence, a one-time close (OTC) loan offers something of an all-in-one financing experience. An OTC loan provides financing for the lot purchase and building construction, and then automatically converts to one permanent loan. Required payments during construction are interest only, and there is one set of closing costs and documents, which can help save money.


  • There’s only one set of closing costs.
  • The loan covers both the construction and the permanent loan.
  • Available on stick-built.
  • You can make interest-only payments during construction.


  • If you go over budget, you might need a second loan.


Interested in this loan?