Build the home you've imagined — with one loan.
- One loan, one closing, one set of fees
- One loan, one closing, one set of fees
- Construction + permanent financing
- Lock your rate before you break ground
- Conventional and VA eligible
- Conforming & high-balance amounts
HCP VERIFIED TERMS: Terms verified through HCP's loan products database.
✽ One-Time Construction Loan | OTC
OTC Construction Loan
Up to 95% LTV — Conventional
Receive tailored advice and strategies designed to meet your specific goals and needs, ensuring effective and actionable solutions.
11-Month Build Period
Our advisory team offers continuous support and updates, providing you with reliable assistance whenever you need it.
Rate Lock up to 90 Days
Gain access to specialized knowledge and unique insights that give you a competitive edge and inform your decision-making.
WHAT DO YOU NEED TO QUALIFY?
Credit & Eligibility
- 700 FICO minimum (Conventional)
- 620 FICO minimum (VA loans)
- Primary residence, second home, or investment
- Owner-builder allowed on primary residence
- Tear-down & rebuild eligible
Builder Requirements
- Licensed general contractor required
- VA builds: VA Registered Builder + Granite approved
- Builder approval package submitted for underwriting
- Construction plans and specs required
- Project review by our underwriting team
Loan Structure
- 95% max LTV available on purchases
- 100% LTV on VA loans
- 11-month construction + 1-month mod
- Interest-only during build (Conv)
- No payments during build (VA)
- Conforming and High Balance limits
- 90-day rate lock during construction
THE OTC CONSTRUCTION ADVANTAGE
Our one-time close program eliminates the complexity of traditional construction financing — one loan takes you from land to permanent mortgage.
Single Close
One loan. Less Hassle.
One closing, one set of fees.
Simplify your build.
Rate Lock
Pre-construction rate lock.
Market change protection.
Secure your rate.
One Application
Single qualification process.
No second approval needed.
Apply once.
Seamless Transition
Construction to permanent.
No re-fi at completion.
Build with confidence.
WHO WE HELP BUILD
From first-time builders breaking ground on their dream home to families rebuilding on the perfect lot — we provide construction financing for every type of homebuilder.
Custom Home Builders
You have the vision and the perfect lot. Traditional banks make you juggle two separate loans — one for construction, one for permanent financing — doubling your stress and your closing costs.
Land Owners
You already own the land — now you need to build. Most lenders require separate land loans, construction loans, and permanent mortgages. Three loans, three headaches, three sets of fees.
Tear-Down Rebuilders
The neighborhood is perfect but the house is not. Demolishing and rebuilding means navigating demolition permits, construction financing, and permanent mortgage — all separately with most banks.
First-Time Builders
Building your first home is exciting — until you realize lenders expect you to be an expert in construction financing. Draw schedules, inspections, and dual-loan complexity make the process overwhelming.
Rural & Acreage Builders
Building on rural land means extra challenges — well and septic requirements, longer driveways, and lenders who are unfamiliar with non-subdivision construction. Finding the right financing is half the battle.
ADU & Addition Builders
Adding an accessory dwelling unit or major addition to your existing home requires construction financing that most banks will not touch. You need a lender who understands this unique project type.
WHY TRADITIONAL CONSTRUCTION FINANCING FAILS
Banks treat building a home like two separate transactions. Their outdated process creates unnecessary risk, cost, and stress for families.
Two-Close Hassle
Traditional construction requires two separate loans — one to build, one for permanent financing. Two applications, two closings, two sets of fees.
Rate Lock Risk
Construction takes months. Without a rate lock, your permanent mortgage rate could spike between groundbreaking and move-in day.
Draw Schedule Confusion
Managing construction draws, inspections, and builder payments is a full-time job. Banks make the process unnecessarily complex.
Qualification Complexity
Banks require separate qualification for construction and permanent loans. Meet the bar twice or lose everything.
THE OTC SOLUTION
One loan, one closing, and complete peace of mind from groundbreaking to move-in day.
Single Close
One loan, one closing, one set of fees. No second closing when construction is complete.
Rate Lock Protection
Lock your permanent rate before construction starts. Protected from market changes during your build.
Managed Draws
We handle construction draw management and inspections. Funds released at each milestone.
Builder Flexibility
Work with your builder or choose from our network. Licensed and insured builders welcome.
Land + Build
Finance land purchase and construction together in a single loan. No separate land loan needed.
Permanent Transition
Automatic conversion to permanent mortgage at completion. No refinancing, no requalification.
Frequently Asked Questions
Start Your Build
Tell us about your construction project. A specialist will contact you within 24 hours.