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No Lender Fees
We don't charge any lender fees, saving you on average $1,600 over retail banks.
Won't Impact Credit Score
We make sure the numbers work before running your credit.
Specialty
One-Time Close Construction
"Build your dream. One loan. One closing."
Finance land purchase, construction, and permanent mortgage all in one loan with one closing. Lock your rate before breaking ground.
10–20%Min Down
680+Min Credit
$2MMax Loan
Down payment and credit requirements vary by loan program, credit profile, occupancy, and property type. All loans subject to credit approval and program eligibility.
Is This Loan Right for You?
✓ This Loan Is Perfect If You...
- Building a custom home from the ground up
- Own a lot or buying a lot with the loan
- Have a licensed, insured builder selected
- Want to lock your rate before construction
- Have 10–20% down payment available
✕ This Might NOT Be Right If...
- Buying an existing home (not building)
- Doing speculative/spec building without pre-sale
- Want to be your own contractor (owner-builder)
- Builder is not licensed or properly insured
- Need to close in under 60 days
One-Time Close Construction Benefits
Everything you need to know about your benefits
Rate Locked from Day One
Your permanent rate is locked before the first shovel hits dirt
One Closing, One Set of Fees
Save thousands by avoiding a second closing
No Requalification
You will not need to qualify again when construction ends
Interest-Only During Build
Only pay interest on funds disbursed, not the full loan
We Manage Draws
We handle builder payments at each construction milestone
Seamless Conversion
Loan converts to permanent mortgage automatically
How It Works
Your path to homeownership in just a few simple steps
Get Pre-Qualified
Submit plans, builder info, and financials. We will confirm your borrowing power.
Lock Your Rate
Secure your permanent rate before construction begins. One closing, one date.
Build Your Home
We fund builder draws as work progresses. You pay interest only on amounts disbursed.
Move In
Construction completed! Your loan automatically converts to a permanent mortgage.
⚠ Important to Know
Things to Consider
A reverse mortgage is a significant financial decision. Here's what you should understand before proceeding.
Licensed Builder Required
Your builder must be a licensed general contractor with proper insurance. Owner-builder options are limited.
Cost Overruns
Overruns beyond your contingency reserve may require out-of-pocket payment. Build in a 5–10% buffer.
Timeline Planning
Construction loans typically allow 9–12 months to build. Discuss your timeline with your loan officer.
HUD-approved counseling is required to ensure you fully understand these factors before proceeding.
🔨 Build Process
How Your Loan Works During & After Construction
From groundbreaking to move-in day, here's what to expect at each phase
During Construction
Typical Draw Schedule
FoundationFramingSystemsInteriorFinal
After Construction
Your new home is readyAutomatic Conversion
Loan seamlessly converts to permanent mortgage—no second closing
Permanent Mortgage
Standard principal & interest payments on your completed home
Same Great Rate
Rate you locked at start of construction
No Additional Fees
Avoid the costs of a second loan and closing
One Loan. Done.
No second closing required
Loan Details
Documentation Required
- Architectural plans and specifications
- Fixed-price construction contract
- Builder license and insurance
- Builder cost breakdown / budget
- Standard income and asset documentation
Eligible Property Types
- Custom single-family homes
- Second homes / vacation properties
- Primary residences
Additional Info
- Builder must be licensed general contractor
- Construction timeline typically 9–12 months
- 5–10% contingency reserve recommended
- Land can be included or already owned
One-Time Close vs Two-Time Close
| One-Time Close Featured | Two-Time Close | |
|---|---|---|
| Number of Closings | 1 ✓ | 2 |
| Closing Costs | Paid once ✓ | Paid twice |
| Rate Lock | Upfront ✓ | At conversion |
| Requalification Required | No ✓ | Yes |
| Rate Uncertainty | None ✓ | Risk of higher rate |
| Total Fees Saved | $5,000–$15,000 ✓ | — |
*Rates and terms subject to change. Contact us for current offers.
💬 FAQ
Frequently Asked Questions
Common questions about One-Time Close Construction
How does a one-time close construction loan work?
A one-time close loan combines land purchase, construction financing, and permanent mortgage into a single loan with one closing. You lock your rate upfront, make interest-only payments during construction, and the loan automatically converts to a permanent mortgage when building is complete—no second closing or requalification needed.
What is the difference between one-time and two-time close?
With two-time close, you close twice: once for construction, then again for the permanent mortgage. This means two sets of closing costs, two underwriting reviews, and rate uncertainty. One-time close eliminates all of that—one closing, one rate lock, no requalification.
How do builder draws work?
We release funds to your builder in stages as construction progresses (typically 4-6 draws). An inspector verifies work completion before each draw. You pay interest only on disbursed funds, not the full loan amount.
What if construction costs more than expected?
Cost overruns come from your contingency reserve (typically 5-10% of the construction budget). If overruns exceed your contingency, you may need to cover the difference out of pocket. That is why accurate budgeting is crucial.
Can I be my own general contractor?
Owner-builder loans have very limited availability and stricter requirements. Most construction lenders require a licensed, insured general contractor. If you are experienced and licensed yourself, ask about owner-builder options.
Can I include land purchase in the loan?
Yes! If you are buying a lot, the land purchase can be part of the one-time close loan. If you already own the lot, its equity may count toward your down payment.
Explore Other Options
Not quite right? Check out these alternatives
Conventional Loan
The classic choice. No mortgage insurance with 20% down and competitive rates for strong credit.
Learn More →FHA Loan
Low down payment, flexible credit requirements — a common route for first-time buyers.
Learn More →VA Loan
Zero down and no monthly mortgage insurance for eligible veterans. VA funding fee may apply.
Learn More →
NEXA Lending LLC
AZMB #0944059
An Equal Housing Lender All Rights Reserved. © 2026
Contact Us
Branch:
3337 W 95th Street,
Evergreen Park, IL 60805
Evergreen Park, IL 60805
Corporate:
5559 S Sossaman Rd
Building 1 #101,
Mesa, AZ 85212
Building 1 #101,
Mesa, AZ 85212
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