New Construction Financing
One-Time Close New Construction Loan
Build Your Dream Home with One Simple Mortgage
Wandaliz Torres · Mortgage Loan Originator · NMLS #1686119
Chapter 1
The Challenge
The Problem with Traditional Construction Loans
Building a home is exciting — but traditional construction financing can turn your dream into a stressful juggling act. Here's what most borrowers face:
Two Loans, Two Closings
Double the paperwork, double the closing costs
Re-Qualification
You must qualify again after construction ends
Rate Uncertainty
Interest rates can rise before your permanent loan locks
Higher Risk
Loans can fall apart mid-build, leaving you exposed
Chapter 2
The Solution
What Is a One-Time Close New Construction Loan?
A single-closing construction-to-permanent loan that automatically converts from construction financing into your permanent mortgage — no second closing, no re-qualification, and only one set of closing costs.
1
Close Once
One application, one approval, one closing
2
Build
Interest-only payments during construction
3
Move In
Loan converts automatically to your permanent mortgage
Can be structured as a purchase (buying a lot + building) or a refinance (if you already own the lot).
Chapter 3
Program Details
Conventional Loan Program Highlights
Fixed & ARM Options
15- & 30-year fixed, plus 7/6 and 10/6 ARMs
Fannie Mae & Freddie Mac
Conforming & high-balance limits accepted
Property Types
Primary residence, second home & investment
Qualification
Min FICO 700 · Up to 95% LTV
What Can Be Financed?
This loan covers nearly every cost involved in building your new home — from the ground up.
Lot & Land Costs
Purchase a new lot or pay off an existing lot loan
Construction & Builder
Builder contract, construction costs, and demolition if needed
Plans & Permits
Architectural fees, engineering plans, and permit costs
Reserves & Payments
Contingency reserves and interest-only payments during the build
Chapter 4
How It Works
The Construction Draw Process
Your builder is paid in stages — called draws — verified by inspections at every step. Funds are held in escrow and released only after confirmed progress.
No funds are ever released without verified construction progress, protecting your investment throughout the entire build.
Important Rules & Restrictions
What's Not Allowed
  • No future rental income can be used to qualify
  • No escrow holdbacks
  • No cash-out for deposits paid before closing
  • Land with an existing dwelling is ineligible unless parceled
Owner-Builder & Pre-Start Rules
  • Owner-builders allowed on Conventional only
  • Higher equity and qualification standards apply
  • Must sign primary residence occupancy statement
  • Pre-started construction may qualify with inspections
Chapter 5
Conversion & Delays
How Your Loan Converts — and What If There Are Delays?
Construction Phase
Interest-only payments keep costs low while you build
Automatic Conversion
No second closing and no re-qualification required
If Delays Occur
Expired documents are updated; major budget changes may need an addendum
Who Is This Loan Ideal For?
Custom Home Builders
Families designing and building their dream home from scratch
Land & Build Buyers
Buyers purchasing a lot and building in one seamless transaction
Tear-Down & Rebuild
Homeowners replacing an existing structure with a new build
Payment Stability Seekers
Anyone who wants to lock in their rate and avoid financing surprises
Let's Build Your Future Together
From pre-approval strategy to final inspection, I provide step-by-step guidance, expert builder coordination, and clear communication throughout your entire build.
Wandaliz Torres
Mortgage Loan Originator
NMLS #1686119 · Company NMLS #1871425
610 Sycamore St, Ste 140
Celebration, FL 34747
Get Pre-Approved Now

Loan subject to credit approval and program guidelines. No future rental income may be used for qualification purposes.