Save time & money with Our Full Suite of one-time and two-time close Portfolio and jumbo Construction Loans. Get Building Down to 640 Scores!

Our Land and home Loans Can Close At The Same Time Or In Stages, Depending on your Needs.

USDA Construction is open and ready to start helping consumers build the home of their dreams. These options allow you to buy your land, pay off existing land, & build your home in one loan or two without having to re-qualify at different stages, especially given the uncertainty of the economy, rates, and job market.

Get some of the highlights here on this page, or check out our updated 2024 USDA Construction Loan Program Guide by clicking here.

Traditional Construction Loan VS. Conventional, FHA, Portfolio, Or VA One-Time Close Construction Loans

Traditional construction loans require you to get a loan for the land, and land lenders require significant down payments. Then, you'd need to get a construction loan, where most lenders also require another significant downpayment. After the construction, you must do a final loan to pay off and consolidate your land loan.

That is three loans, with significant down payments and appraisals at multiple stages on each loan. Then, add closing costs spread out over three loans. At the same time, while you wait for those three loans to close, rates could rise, jobs could change, and it leaves much room for uncertainty.

By choosing one of our available one-time or two-time close loans, you can significantly reduce costs and fees and take advantage of construction loan options many other banks don’t offer.

Do you have the time and patience for that?

USDA Nationwide's One-Time, two-Time Close & Portfolio construction Programs Are Some Of The Most Popular Available In Today's Market!

In just one loan or two, we finance every aspect, from land acquisition to the ground-up build and final fixed loan with no prepayment penalty in one low payment.

You read it correctly. If you don't already own or have land under contract, pick out the exact plot of land you want, negotiate the best price, and place it under contract. Our pre-approval process will help determine your maximum total loan amount and negotiate an excellent rate and term.

If you’re a Veteran, take advantage of 100% VA Construction financing, or for non-Veterans, we offer other Portfolio construction loan options to fit your needs. Conventional, Jumbo, and extensive renovation loans for a new home purchase or currently owned property.

After you’ve found a piece of land (if you don’t own land already), find your builder or modular retailer and choose everything you want in your home. Negotiate the best price for the build and customizations you can. We will then take both land contracts, if one exists, or obtain a payoff on your current land loan, along with the builder’s contract, and we will work to pre-qualify you for your maximum loan amount allowed.

We will even work to provide recommendations on builders/contractors or realtors if you need them in your area, and we will help them get approved to work with us as long as they can meet our builder/contractor criteria. We will follow USDA’s maximum county loan limit updates each year and their maximum income and debt ratio limits while working to approve your loan.

With land found and the builder decided upon, we start the approval and underwriting process. When all is done, we close on the land, and the construction financing is entirely in place. We fund the loan, we fund the draws, and we complete the inspections and title updates.

We’ll stay with you, communicating, explaining, and keeping everyone coordinated during every phase of the loan process. You aren’t left in the dark, as our team has been closing these loan types for years, unlike many other bankers and loan officers who have yet to close their first one.

USDA One-Time & Two-Time Close Construction Loans Are Available to Eligible Borrowers On The Following Property Types:

YES: Jumbo Home Financing, Steel/Metal Homes, Barndominiums, Log Cabins, Concrete Block Homes, SIP Panel Homes, ICF Insulated Concrete Foam Homes, Log Cabin Style Homes, Multi-Family, 2nd Homes, ADU Accessory Dwelling Units.

Ineligible Property Types: Singlewide Manufactured, Earth Contact, Geodomes, Container Homes, Tiny Homes, Shomes (Shop Homes), A-Frames, Mixed-Use Property, NO Investment Homes, Nor Any Commercial Projects. No self-build or self-contracting allowed.

Our One-Time & Two-Time Close Construction Loan Program Highlights

• 640 minimum credit score required

• Conforming, High-Balance, and Jumbo loans to $3+ Million.

• Single Family, Multi-Family, Primary Residence, 2nd Homes, and Accessory Dwelling Units Eligible.

• Available in all 50 states.

• Up to 100% under our VA program for Veterans.

• 1 Loan vs. 3 saves closing costs, appraisals, title fees, & down payments when factoring in land loan, construction loan, and final take-out loan of traditional construction financing.

• One-Time Close Requires NO Re-Qualification once construction is complete.

• One-Time Close Requires NO Re-Appraisal, one appraisal only, completed as if the home was built, so no worries of property values dropping during the build.

• Available land equity can be used towards a portion of the down payment if owned or purchased simultaneously.

• The land you own with a loan balance remaining will be paid off and rolled into the loan.

• Our construction loan is 100% in place before breaking ground.

• Full inspectors ensure your build is going as planned before payments are made to the builder.

• Builder is never paid for work not yet completed, designed to protect you, the customer.

• Attractive Fixed and Interest Only terms are available.

• No Self-Help, Family Builders, and Buyer can not act as a contractor or complete any work on the home.

• The builder/retailer can offer seller concessions and roll in closing costs, and VA loans may possibly have zero out-of-closing.

• *Well-qualified borrowers may be eligible for up to $50,000 additional unsecured funds before or after closing to use as they wish.

Ineligible Property Types: Singlewide Manufactured, Earth Contact, Geodomes, Container Homes, Tiny Homes, Shomes (Shop Homes), A-Frames, Mixed-Use Property, Nor Any Commercial Projects. No Self Build, Relative Build, Employer Build, or Self Contracting Allowed. *We do not offer New From Dealer Manufactured Home Loans in New York.

Thank you Kindly For Your Time & Consideration

TOUGH LOANS DON’T SCARE US, Not USDA Construction, Nor Any Other Loan Programs, And We Offer hundreds!

Aside from USDA Home Loans, we offer so many options. From Construction To Bridge Loans, Down Payment Assistance Programs, Doctor Loans, Veterinarian Loans, Nurse Practitioner Loans, First Responder Loans, Foreign National, ITIN, and Extensive Renovation Projects, even Manufactured Homes, each loan is as unique as the home! Treating our customers with extreme care and attention to detail, we can’t wait to serve you. We’re solution-oriented, efficiency-motivated, and highly skilled bankers working for you; let us help you today!