Build Your Dream Home with a Single, Streamlined Loan

Building a custom home is an exciting journey. Ettlin Financial Corporation makes the financing process simple with our One-Time Close construction loans. This single loan combines the funds for both building your new home and your long-term mortgage, so you only have to go through one closing.

 Key Benefits of a One-Time Close Loan

  • One Loan, One Closing: Avoid the hassle and double closing costs of getting a separate construction loan and then a permanent mortgage. Everything is done in a single transaction.
  • Rate Protection: You lock in your interest rate before construction begins, protecting you from rising rates while your home is being built. You may also have the option to "float down" to a lower rate if the market improves.
  • Simple Transition: Once construction is complete, your loan automatically converts to a permanent mortgage. There is no second application or re-qualification needed.
  • Convenient Payments: During the construction phase, you only pay interest on the funds that have been disbursed to your builder. For eligible VA borrowers, there are no payments required during this period.

 Do You Qualify?

One-Time Close loans are available under conventional and VA guidelines for a new primary residence. We require a licensed and vetted contractor and a detailed construction plan for approval.

  • Credit Score: A credit score of 700 or higher is generally needed for conventional loans, while VA loans typically require a score of 580 or higher.
  • Down Payment: Conventional loans may require a down payment as low as 5%, while VA-eligible borrowers can build with zero down payment.
  • Loan Term: Both 15- and 30-year fixed-rate terms are available for your permanent mortgage.

Ready to take the next step toward building your perfect home? Contact us today at (949) 705-7735.