Why build your dream home twice when you can do it all in one move?

If you’re thinking about building a home, you’ve probably heard that financing it can be tricky. Some lenders require you to qualify twice, close twice, and pay closing costs twice.

👉 A One-Time Close Construction Loan solves that — giving you a single loan, single approval, and single closing for the entire build and final mortgage.

Here’s how it works and why it’s one of the most stress-free ways to build a home from the ground up.

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✅ What Is a One-Time Close Construction Loan?

A One-Time Close Construction Loan — sometimes called a construction-to-permanent loan — lets you:

1. Finance the land (if needed)
2. Fund the construction process (released in draws)
3. Automatically convert to a long-term mortgage after the home is complete

All with:

• One application
• One set of closing costs
• One rate lock
• And no need to requalify

💡 It’s all done up front, so you don’t have to stress about rising rates or surprises during construction.

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🔁 How It Works (Step-by-Step)

1. Apply and get pre-approved with PRMI
2. Select your lot, builder, and home design
3. Submit plans, budget, builder docs
4. Close on your construction loan — this is the only closing you’ll do
5. Construction begins — builder receives funds in phased draws
6. Once complete, your loan automatically converts into a standard mortgage

✅ You make interest-only payments during construction, then begin regular payments after move-in.

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🔐 Top Benefits of a One-Time Close Loan

Benefit	Why It Matters
✅ One closing	Save on time, money, and paperwork
✅ Fixed interest rate	Lock in early — no market risk later
✅ No re-qualification	Even if credit or income changes during build
✅ Streamlined process	Less duplication, faster results
✅ Peace of mind	You’re fully covered from day one

📘 This is ideal for buyers who want simplicity, predictability, and control.

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💰 How It Saves You Money

With a two-time close:

• You pay two sets of closing costs
• You risk higher rates if the market shifts
• You must requalify after construction (which can be tough if income or credit changes)

With a one-time close:

• You pay once
• You lock your rate at the beginning
• You’re done — even if rates or rules change during the build

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🧠 Who Should Consider One-Time Close?

One-time close loans are great for:

• First-time builders
• Buyers who want a fixed rate up front
• Families with tight budgets or timelines
• Anyone who values a streamlined, no-hassle experience

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🏢 Why PRMI?

We help you:

• Understand your construction and mortgage options
• Work with experienced builders who meet OTC requirements
• Handle the entire process in-house — no hand-offs, no delays
• Move into your dream home without double the work

With PRMI, your construction loan is just one step toward your forever home.

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👇 Want to Build Without the Hassle of Multiple Loans?

Let’s walk through the one-time close process and show you what’s possible — before you break ground.