FHA ONE TIME CLOSE
CONSTRUCTION LOAN
Our One Time Close loan combines your construction financing and permanent mortgage into one simple package. You’ll close just once, lock in your rate upfront, and won’t have to re-qualify when construction is finished. When construction is complete your loan automatically converts to a regular fixed-rate mortgage — no second closing required.
Guidelines This program provides a fixed-rate loan, 15 or 30 years , designed for primary residences only . Borrowers can finance up to 96.5% of the lesser of the acquisition cost or appraised value , plus UFMIP, with loan limits based on FHA county guidelines. Program costs include a construction fee, inspection fees that differ depending on whether the home is site-built or manufactured, along with feasibility, administrative, and processing charges collected at closing. Construction interest and soft costs are built into the builder’s price , and interest accrues only on the funds disbursed.
Program Highlights Minimum 650 FICO required Start with as little as 3.5% down Close in as little as 45 days with an approved builder Flexible Property Options: Site-built, modular, and manufactured homes. Barndominiums permitted with specific restrictions (slab foundation, no metal/post beam, no agricultural use) Work with one of our already-approved builders, or apply to have your preferred builder approved through a simple review process.
Want to get approved as a builder? email Britney Clawson to start the process. BClawson@elementhl.com To see our list of approved builders, reach out to DeAnn by email.
DeAnn Ellis Davidson Senior Mortgage Consultant NMLS# 148916 | GA MLO# 25670 Office: 855-ELEMENT Cell (770) 616.8042 EllisMortgageTeam.com DeAnnEllis@elementhl.com 155 Bankers Boulevard, Unit I-200, Monroe, GA 30655
Equal Housing Lender. Make sure you understand the features associated with the loan program you choose, and that it meets your unique financial needs. Subject to Debt-to-Income and Underwriting requirements. This is not a credit decision or a commitment to lend. Eligibility is subject to completion of an application and verification of home ownership, occupancy, title, income, employment, credit, home value, collateral, and underwriting requirements. Not all programs are available in all areas. Offers may vary and are subject to change at any time without notice. Equal Housing Lender. MLO licensing information: . NFM, Inc. d/b/a NFM Lending. For NFM, Inc.’s full agency and state licensing information, please visit www.nfmlending.com/licensing. NFM, Inc.’s NMLS #2893 (www.nmlsconsumeraccess.org). NFM, Inc. is not affiliated with, or an agent or division of, a governmental agency or a depository institution. © 2025 NFM, Inc. dba NFM Lending. America’s Common Sense Lender® Trade/service marks are the property of NFM, Inc. and/or its subsidiaries. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. Please note that the pre-qualification does not constitute a commitment or a loan approval, but is instead a preliminary assessment of your current credit worthiness.
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