Construction

Build with confidence: One Closing, One Approval, and One Smooth process

Prospera Mortgage offers you loans through top wholesale lenders to match you with competitive pricing, faster turn times, and options that fit first-time and repeat buyers alike.

Why Choose One-Time-Close?

Streamlined from blueprint to move-in

  • Single closing for construction and permanent mortgage: one set of closing costs.

  • One approval & one rate with an automatic modification at conversion when applicable.

  • Simplified draws & inspections with coordinated builder communication.

  • Flexible structures: fixed-rate and ARM choices to fit your timeline.

  • Use cases: primary homes, second homes, and (where eligible) investment properties.

Document Checklist

Be application-ready

  • Government ID & SSN

  • Income & asset docs (paystubs, W-2/1099, bank statements, tax returns if applicable)

  • Builder contract, plans/specs, budget & draw schedule

  • Lot documentation, permits, and insurance as required

How It Works

Your path from plans to keys

  1. Pre-Approval & Builder Info: We underwrite your finances and gather builder credentials and project budget.

  2. Single Closing: Close once for construction + permanent loan.

  3. Draws & Inspections: Funds released to your builder by stage; progress verified.

  4. Conversion: When the home is complete, your loan converts to the permanent mortgage.

Construction Programs Available

One-Time-Close Conventional

Combine your construction financing and end loan into a single closing. Choose popular fixed terms or an ARM to match your build horizon and long-term plan.

  • One closing, one set of costs, one approval.

  • Fixed (15/30-yr) and select ARM terms available.

One-Time-Close VA

Elegible veterans and service members can build with the benefits of VA, then convert to permanent financing in a single, streamlined process.

  • Single closing; coordinated builder draw process.

  • Primary residence; eligibility and VA rules apply.

High-Balance Conventional

For price points above standard conforming limits, high-balance options can bridge the gap while keeping a single close.

  • Great for eligible high-cost counties.

  • We’ll compare high-balance vs. jumbo alternatives.

 

Construction Loan FAQs

  • We’ll walk through available lock options for your chosen term and product. Your Loan Estimate will show how your rate and conversion work.

  • With a one-time-close C2P structure, you typically don’t complete a second full closing to convert. We’ll explain the conversion and any final conditions at application.

  • Conventional C2P options can allow primary, second-home and certain investment scenarios; VA C2P is for eligible primary residences. We’ll confirm eligibility for your plan.

  • Funds are released in stages tied to construction milestones. The lender coordinates inspections and communicates directly with your builder.

Prospera Mortgage LLC is an independent mortgage broker. Programs, rates, terms and eligibility are subject to change without notice and may vary based on borrower profile, property type, occupancy, and market conditions. Not a commitment to lend. All loans are subject to underwriting approval. Equal Housing Opportunity.