One-Time Close Loan

  • Make a new build straightforward, affordable, and easy.
  • Reduce stress because you're approved for the permanent loan upfront.
  • Avoid potential rate hikes with a long-term rate lock.
  • Simplify the process with one closing instead of two.

  • Secure both short-term construction and long-term financing at the same time.
  • Go through the loan process just once, plus pay only one set of closing costs.
  • Automatically converts to the permanent mortgage once construction is complete.

  • Finance up to 90% of the property value - As low as 10% down payment
  • Perfect credit not required - Minimum 640 FICO score
  • Good for buying a primary residence or second home
  • Allows up to 10-acre properties
  • Lower interest-only payments during construction
  • Permanent mortgage has a fixed rate
  • One builder/general contractor - All improvements in one contract
  • Construction phase can last 6, 9, or 12 months

Loan Types

Interested in a One-Time Close Loan? Contact us today or Get Started here.

How It Works

  • 1 Get prequalified here.
  • 3 Your loan is underwritten
  • 5 Closing (& the first draw) takes place
  • 7 Draws are disbursed according to your loan terms
  • 9 Your construction loan changes to the permanent loan
  • 2 Complete your loan application (Cornerstone will need to approve your builder)
  • 4 Create a draw schedule
  • 6 Your home is built
  • 8 Final inspection and survey take place