VA Single Close Construction Loan | Build with One Loan – Go Mortgage
                     VA Single Close Construction Loan: 
Build Your Home with One Loan
A VA Single Close Construction Loan also referred to as a VA one-time close construction 
loan — is a mortgage option backed by the U.S. Department of Veterans Affairs that allows 
qualified borrowers to finance the cost of land (if needed), the build, and the permanent 
mortgage in one single loan and one closing. 
Unlike traditional two-loan construction financing, which requires separate approvals and closing
for construction and permanent financing, a single close VA loan streamlines the process. 
Borrowers qualify once, have only one appraisal, a single loan originator, and avoid multiple 
closings, which often leads to significantly lower closing costs and reduced complexity. 
Because this loan is VA-backed, most eligible borrowers do not need a down payment, and 
interest rates traditionally remain competitive. 
Key Benefits of a VA Single Close Construction Loan
● Single Loan and One Closing: The loan finances land purchase (if applicable), new 
home construction, and permanent financing, all in one transaction. 
● No Down Payment Required: Eligible veterans and service members can generally 
build with no down payment.
● Streamlined Process: Borrowers qualify once and avoid the need for separate 
approvals and closings, simplifying the administrative burden.
● Lower Closing Costs: Since only one closing is required, borrowers typically pay fewer 
fees compared to traditional construction loans.
● Competitive Interest Rates: VA backing keeps interest rates competitive and 
accessible. 
How the VA Single Close Construction Loan Works
1. Prequalification and Eligibility:
 Borrowers start by determining eligibility with Go Mortgage’s team. You must provide 
proof of your VA benefits, such as a valid Certificate of Eligibility (COE), and meet 
income and credit requirements.
2. Choose Your Builder:
 After prequalification, you select a VA-approved builder. Go Mortgage will help 
determine if your chosen builder meets VA requirements and ensure all paperwork and 
timelines are aligned.
3. Appraisal and Underwriting:
 An appraisal is performed based on the projected value of the completed home, plans, 
and specifications. Underwriting reviews income, credit, and other eligibility factors.
4. One Closing:
 You close once on your loan, financing the land, construction, and long-term mortgage. 
The interest rate and loan terms are locked at closing.
5. Construction Begins:
 After closing, construction starts. Go Mortgage coordinates draw schedules and 
inspections throughout the build process to ensure progress is on track.
6. Automatic Conversion:
 Once construction is complete, the loan automatically transitions into a permanent VA 
mortgage, no requalification, no second closing.
Who Qualifies?
To be eligible for a VA Single Close Construction Loan, you generally must:
● Be an eligible veteran, active duty service member, or qualifying surviving spouse.
● Have a valid VA Certificate of Eligibility (COE).
● Meet income, credit, and repayment ability requirements established by the lender.
● Work with a VA-approved builder who meets all registration and licensing criteria.
Go Mortgage’s experienced loan officers can help review your eligibility and guide you through 
the VA requirements. 
Frequently Asked Questions (FAQs)
Is there a down payment required?
 Most eligible veterans and service members can build with zero down payment using a VA 
Single Close Construction Loan. 
How does the interest rate work?
 The VA one-time close loan locks in your interest rate before construction begins, protecting 
you from rising rates during the build phase.
What costs can be included in the loan?
 Closing costs, VA funding fees (if applicable), and construction funds are typically included in 
the loan amount, subject to eligibility and appraisal.
Does this loan convert automatically?
 Yes, once construction is complete and all inspections are done, the loan automatically 
becomes your long-term VA mortgage with no second closing or refinance needed. 
Conclusion
For veterans and active duty military members looking to build their dream home, a VA Single
Close Construction Loan offers a powerful, simplified financing solution. With one loan, one 
closing, and no down payment required, eligible borrowers can take full advantage of their VA 
home loan benefits and enjoy a streamlined path to homeownership. Go Mortgage’s expert 
team is ready to support you at every stage, from eligibility review to closing and construction 
completion.
Contact Information
Address: 
 3 Easton Oval
 Suites 314, 316 & 317
 Columbus, OH 43219
📞 Phone: (800) 444-7283
Website: https://gomortgage.com/