Loan Simple Inc, |NMLS 3032 9635 Marron Circle | Englewood CO 80112

One time close construction loans for FHA, VA and USDA loans.

Marco Montano | NMLS 404303

Renovation VP

Learn about renovation loans sites below

FHA 203k Renovation Loan

The FHA Renovation loan allows someone to buy/refinance a primary home that needs repairs/upgrades and roll them all into one fix loan.

203K Renovation Website

Veterans Renovation Program

The VA Renovation program allows an eligible Veteran to buy/refinance a home and roll in any repairs/upgrades into one loan.  Up to 100% Financing options.

VA renovation website

Conventional Renovation Program

Conventional Renovation for Primary Home as low as 3% Down, 2nd Homes 10% down, and Investment Homes with as little as 15% down.

Conventional renovation website

What are construction loans?

Commonly known as C-to-P loans, construction loans are perfect for the borrower who is starting from scratch on a new-build property. The borrower obtains a loan that funds their construction project and secures the long-term financing. Construction loans have been typically used for custom homes or to build in a subdivision not controlled by a large production builder.  Larger developers build hundred’s of homes and allow some modification to the home but there is a price for every change.  They will also lure customers to their own mortgage companies by offering incentives that most of the time the customer has already paid in one way or another in the price or upgrades.  The financing does not do not start on the home until they are close to getting the certificate of occupancy and when the build is completed.  

The time has come to have every customer think about a One Time Close Construction for not just custom/luxury homes but affordable homes that are customized to their family needs.  

There are typically two types of construction loans a one-time close and two-time close construction loan.  We will explain the one-time close construction loan which we have for FHA, VA and USDA customers.

How are they Structured?

  • Structure: A single loan transaction that funds construction and then is modified/converted into a long-term fixed-rate loan
  • Interest Payments: Borrower typically pays interest-only payments during the construction period.  With our OTC loan, the customer does not make any payments while the construction of their home is being conducted and only until the loan is modified from a construction to their permanent loan.
  • Principal Balance: The borrower knows what the principal balance of the complete loan since they close on the construction and permanent loan before the construction begins.
  • Upon Construction Completion: Loan is modified to fully-amortizing payments on a fixed FHA, VA or USDA loan.

Apply Online

FHA, VA, and USDA Construction to Permananet Loans


How does the One Time Close Loans work?

We offer a Construction to Permanent loan for new manufacture, modular and stick built homes.  Our one-time close program provides the construction financing, lot purchase, and Permanent loan all wrapped up into one loan.  Why worry about re-qualifying, re-appraisals and incurring additional closing cost when your home is completed.  

Our thrue one-time interim financing and administration for the one time close is staged into funded construction to permanent loan.  Designed for manufactured housing, modular housing and traditional stick built homes.

We approved the permanent portion of the loan before construction begins.  The construction portion of the loan is also approved.  Once we close on the loan the construction can begin.  Because the permanent loan is also closed before construction begins, there is no need to re-qualify the borrower when the home is completed.  This makes it a true one time close, therefore the borrower will never have to return to the settlement agent to close on his permanent loan.

Loan LTV and Credit Scores

The FHA One Time Construction loan allows for 96.5% LTV financing with only 3.5% down payment with a 620 credit score.

The VA and USDA One Time Close Construction loan both provide 100% financing with no down payment with a credit score of 620 or better.

These loans are the perfect solution for our housing shortage and will allow customers to build the home of their dreams with minimal or no down payment.  

You can now look to build that home that will accomodate your family and no need to choose between regular stick built, modular or manufacture homes.  We do them all.  We can finance the purchase of the lot and fun all the construction into one fixed loan with just one payment.

Benefits to the buyer...

No longer does the builder/dealer have to require significant down payment and offer higher interest rates on the construction loans in hopes that the borrower's credit situation remains the same through the construction so they can re-qualify for the permanent loan.

Low FHA/VA/USDA fixed rates.

The rate is locked prior to closing (and construction) for the life of the loan.

No mortgage payments for the borrower to make throughout the construction period.

No construction interest payments for the builder/dealer to make through the construction period.

The loan is 100% in place Prior to the Construction of your Home!

What is your next step?

  • You can start your application online at and click on get started.
  • We can meet face to face or have an application completed over the phone.

About Me

Marco A Montano | NMLS 404303

Loan Simple Inc | NMLS 3032

9635 Maroon Circle #100

Englewood, CO 80112

Cell Phone: 720-400-0780