Construction-to-permanent loans
Build the house. Skip the second closing.
One closing before ground breaks, automatic conversion to a 30-year loan at completion, no re-qualifying mid-build, and your land's equity can be the whole down payment.
Program snapshot
Construction-to-perm at a glance
- Closings
- one, or a guaranteed rollover
- Conversion
- automatic at occupancy
- Programs
- VA, FHA, USDA, conv, Non-QM
- Income docs
- full doc, bank stmts, 1099, P&L
- Land equity
- counts as down payment
Program menus from specialty wholesale lenders. Structures, locks, and land-credit treatment vary by program and change without notice. Not an offer or approval.
The build is risky enough. The financing shouldn't be.
We broker dozens of wholesale lenders, from government one-time close programs to the specialty shops that wrote the book on single-close construction.
1
approval, closing, and set of fees
Close once, dirt to thirty years
One-time close means one approval and one closing before ground breaks, then the loan converts to your 30-year mortgage automatically at the certificate of occupancy. A job change, a credit dip, or a rate spike mid-build can't touch a loan you already closed.
- No re-qualifying after you break ground
- One appraisal, on the finished home's value
- Thousands saved in duplicate closing costs
$0
cash to close, when your land carries it
Your lot is the down payment
Already own the land? Its appraised equity counts toward the down payment, not just what you paid for it. A lot that's appreciated can carry the entire requirement, and some builds close with nothing out of pocket.
- Land credited at appraised value
- Appreciation works in your favor
- Gifted or inherited lots count too
0 down
on VA one-time close
The whole menu, one broker
Government one-time close programs exist too, and we quote them right beside the specialty options: VA runs to zero down for eligible veterans, with FHA and USDA single-close versions for the buyers they fit. You pick from the whole board, not one shelf.
- VA one-time close at $0 down for eligible veterans
- FHA and USDA single-close versions
- Agency and Non-QM quoted side by side
Every kind of homeowner, covered
However you earn and whatever you're building, the conversion doesn't bend.
Locked before the first nail
Select programs lock your permanent rate for up to 12 months while you build, with a float-down if the market drops before the certificate of occupancy. Rates can spike all they want; your loan is already priced. If they fall instead, you catch the better number.
Self-employed, building your own home
The permanent phase qualifies on 12 or 24 months of bank statements, 1099s, or a CPA-prepared P&L instead of tax returns, on primary and second homes. The write-off problem that blocks self-employed buyers from custom builds is solved before it starts.
Sized on the home you're building
Construction funding runs to 80-85% of project cost and the whole structure is checked against the finished home's value, up to 80%, with a single appraisal on that completed value. The house you're creating does the heavy lifting in qualifying.
Complex build? Take the rollover
Custom luxury and multi-unit projects that expect mid-build changes can run a two-close rollover instead: bridge flexibility during construction with a guaranteed conversion into the 30-year loan at completion, reduced second-closing fees, and streamlined re-underwriting.
One approval carries the whole journey.
- 1
Send the plans and the scenario
The lot and what you own of it, the budget, and how your income works. We structure around all three.
- 2
One approval covers both phases
One-time close or rollover, the rate protection, and the land credit, quoted across the specialty menu.
- 3
Build, convert, move in
Draws fund the build, the loan converts automatically at the certificate of occupancy, and the second closing simply never happens.
The quick eligibility check.
- Primary and second homes
- VA, FHA, and USDA one-time close
- VA at zero down for eligible veterans
- SFRs, ADUs, and custom builds
- Land equity at appraised value
- Rate locks through the build
- Full doc or bank statement qualifying
Building to rent or sell instead of live in? That's investor territory: our ground-up construction page covers spec builds, build-to-rent, and the pipeline into a 30-year DSCR rental loan. Self-employed and building your own home? See how the permanent phase qualifies on the bank statement page.
Straight answers
What is a construction-to-permanent loan?
One loan that funds the build and then becomes your 30-year mortgage. You close before ground breaks, draws fund construction, and at the certificate of occupancy the loan converts automatically into its permanent phase. No second application, no second closing.
Why not just get a construction loan and refinance when it's done?
Because the refinance is a bet. Between breaking ground and finishing, rates can spike, income can change, credit can dip, and any of those can wreck the exit right when the house is done. A one-time close removes the bet: you qualified once, you closed once, and the conversion is contractual, not conditional. It also saves a full second set of closing costs.
I already own the land. What does that do for me?
Potentially everything. The land's appraised equity counts toward your down payment, and appraised is the key word: a lot you bought years ago, inherited, or watched appreciate is credited at today's value. Strong land equity can cover the entire requirement, closing the deal with nothing out of pocket.
I'm self-employed. Can I actually qualify for the permanent loan?
Yes, without tax returns. The permanent phase runs on 12 or 24 months of bank statements, 1099s, or a CPA-prepared P&L on primary and second homes, so the write-offs that shrink your taxable income never shrink your build.
What happens to my rate during eight months of construction?
On select programs, nothing: the permanent rate locks for up to 12 months while you build, with a float-down at completion if the market has dropped. And if your project expects big mid-build changes, the two-close rollover path trades the early lock for flexibility with a guaranteed conversion at the end.
VA, FHA, USDA, conventional, or Non-QM: which one is mine?
It depends on your eligibility and how your income documents best. Eligible veterans start with VA's zero-down one-time close. FHA and USDA fit specific buyers and areas. Self-employed builders often win on Non-QM bank statement or P&L qualifying. Our job as a brokerage is to quote every lane you fit and show you the trade-offs side by side.
I'm building to rent it out or sell it. Is this my page?
That's investor territory, and it has its own page: our ground-up construction programs cover spec builds, build-to-rent, and the pipeline from construction loan into a 30-year DSCR rental loan, all with no personal income documentation. This page is for people building a home they'll live in.
Qualify once. Build once. Close once.
Two minutes to send your plans and scenario. No cost, no obligation, and a quote from the whole construction menu, government programs included.
Guthix Lending • NMLS# 2672037 · We are not affiliated with or acting on behalf of the VA, FHA, USDA, or any government agency; government one-time close programs require program eligibility, and VA loans are available to eligible veterans, service members, and surviving spouses. Construction-to-permanent structures, including one-time close, rollover conversion, rate locks, float-down options, and land-equity credit, vary by program and lender and change without notice; conversion is subject to program terms, satisfactory completion, and issuance of the certificate of occupancy. Figures shown reflect the most favorable available tiers. Not all borrowers or projects will qualify. This is not a commitment to lend or an offer of specific terms.