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Constructing and Financing Options

One Time Close or Construction-to-Permanent Loan?

A Construction -to-Permanent Loan is two loans in one. The construction loan covers, financing the building of a new home through the construction phase, the time period your new home is being built.

Once construction is complete, a permanent mortgage is needed. Construction-to-Permanent Loans includes both the construction phase and the permanent mortgage. That is why it is called a One Time Close or Construction-to-Permanent Loan. 

Various lenders offer different packages so you should shop around for the best package for you. 

What do they mean by "no-payment" Construction-to-Permanent Loan?

As part of your Construction-to-Permanent Loan budget, some lender will establish an account to pay the estimated interest costs during the construction of your home. This way you make no monthly payments during construction

How does the construction loan process work?

One Time Loan process is unlike a purchase transaction for an existing home, a Construction-to-Permanent Loan involves determining the value of a home that is not yet constructed. As well as the property location. Your lender will also require a full set of building plans as well as a budget for your project. Once received they can order an appraisal for the final approval. 

Once I get started how do I access my funds?

Unlike a standard purchase mortgage, a Construction Loan is disbursed in the form of payments ( or "draws") as each phase of construction is completed. 

Financial Partners-Who Do I Choose?

Lenders are now offering a variety of different programs. It is simply not one shoe fits all. Some lenders will finance just land while others will not. Some will allow you to use existing property and savings equity's ILO a typical cash down payment. So reach out and find which lender works best for your financial profile. 

Lender Services

Melissa Ferger

US Bank

Wealth Management Mortgage Banker Construction Loan Specialist

NMLS #: 553430

Leo Zuniga


Independent Mortgage Corporation

Loan Officer


Fairway Independent Mortgage Corporation (

Selorme Dorco

UMB Bank

Mortgage Loan Originator

NMLS #1237115

Private Wealth - Wealth Management - UMB Bank