One-Time Close
Construction-to-Permanent Loans
Build Once. Finance Once. Close Once.
A One-Time Close Construction-to-Permanent loan combines your construction financing and permanent mortgage into one streamlined loan. Instead of securing separate loans for the build phase and the long-term mortgage, you complete one application, pay one set of closing costs, and attend one closing.
Once construction is complete, the loan automatically converts to your permanent mortgage. This structure saves time, reduces duplicate fees, and provides clarity throughout the financing process. Our Construction-to-Permanent Loan allows you to move from blueprint to move-in with one structured financing solution. Some restrictions may apply.*
What Is a One-Time Close Construction-to-Permanent Loan?
This financing option includes:
Construction funding for your new home
Interest-only payments during the build phase
Automatic conversion to a long-term mortgage
Traditional construction financing often requires two closings and requalification. With Village Bank, you close once and move forward with a defined mortgage structure from the beginning.
For homeowners, this provides predictability, efficiency, and financial clarity.
Key Benefits
Single Closing
Avoid a second closing and additional closing costs.
Interest-Only During Construction
Pay interest only on funds disbursed while your home is being built.
Competitive Rates
Locked structure with clear repayment options.
Direct Access to Your Lender
Work directly with an experienced mortgage professional throughout the process.
Loan Guidelines
Minimum credit score of 660*
Up to 80% Loan-to-Value on primary or secondary homes*
20% down payment required*
Flexible repayment options
Balloon payment may apply
Subject to credit approval and underwriting standards
Our team will review your financial qualifications and project
details to determine eligibility.
*Originated Loan is subject to credit approval and underwriting standards. The interest rate is based on your Credit Score (FICO score), Debt to Income (DTI) ratio & Loan to Value (LTV) ratio. Standard closing costs apply, with borrowers responsible for specific fees to third-party appraisers, credit reporting agencies, and government recording clerks. Closing fees on a $50,000.00 loan are generally between $3000.00 and $5000.00. Property insurance is required. An appraisal may be required. Consumers should consult a tax advisor for deductibility of interest information.
Ready to Get Started?
Colette Dahlin | VP, Consumer Lending & Mortgage
Colette specializes in Minnesota home financing, including One-Time Close Construction-to-Permanent loans. She works closely with clients to provide clear guidance and structured mortgage solutions tailored to their goals.
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Send me an Email | 763-398-3508
3350 Bridge St NW | St. Francis, MN 55070
NMLS ID# 424744 | NMLS Co. ID# 786171
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