Your dream home starts here with EHL's USDA One Time Close Construction Loan. With 100% financing and a low minimum credit score, this program is designed to provide you flexibility and affordability, so you can build your perfect home – all with just one application and one closing.
USDA Construction Loans are rare, so if you’ve been struggling to find a lender offering one, you’ve come to the right place. Emerald Home Loans has an entire suite of Construction Loans available.
To increase economic development in rural areas, the Federal Government created USDA loan programs. The One-Time Close USDA Construction Loan allows clients to take out a single loan for the construction of a home, combining two loans into one which simplifies the overall financing process.
The USDA Construction Loan is an affordable way to build your own home as it requires no money down*, has a competitive interest rate, and requires only one closing which saves the homebuyer a considerable amount in closing costs. For these reasons, the USDA Single Close Construction Loan is a popular option for construction projects.
1 time close
Owner Occupied (1 unit);100% LTV
0% down required, depending on loan size*
680 min credit score
*Finance up to 90% of the project (purchase price + cost to construct). Eligibility requirements, exclusions, and other terms and conditions apply.
Some of the key benefits include:
Consolidate construction & purchase price for only 1 set of closing costs & fees
Purchase a teardown property
If you already own an empty property & want to build a home, tear down & put up a new one, or do a major renovation on an existing home
Pay just interest-only payments during construction
Avoid requalification post-construction
Simple & flexible draw process with no set schedule
Use qualified licensed builder of your choice (self-build not allowed)
A USDA Construction Loan is only one of the many options for those who are interested in building their own home. And EHL offers them all! Some other options borrowers might want to consider include:
VA One-Time Close Construction Loan: Tailored for veterans and individuals on active duty with the military who would like to build a new home. Click here to learn more about our VA Construction Loan.
FHA One-Time Close Construction Loan: Helpful for borrowers who might not live in a rural area yet still want to build a new home. Click here to learn more about our FHA Construction Loan.
There is an option out there for everyone seeking to build their dream home!
If you are looking to build a new home or do a major renovation on an existing home, the mortgage experts at Emerald Home Loans (EHL) are here to provide you with the services you need to get the job done.
With construction mortgage experts on your side, you’ll be sure to have a smooth process and in the end your dream home. Contact us today to see if you qualify or to learn more about our One-Time Close Construction Loans.
A construction loan is more complex than a standard mortgage, with more moving parts and more specialized expertise required.
Emerald Home Loans has the knowledge, experience, and proven process to guide you through the construction loan process as you build your dream home. To learn more about our construction loan program and find out if you qualify, contact us to discuss your project.