Construction Loan




If your home was destroyed in the wild fires, you do have the option of rebuilding with the FHA One-Time-Close construction loan (depending on eligibility). Even if you have an outstanding mortgage on the house that was destroyed, as long as the outstanding loan amount (minus the insurance money) is less than the value of the land, the OTC loan could refinance the original mortgage and cover the cost of new construction (up to the FHA Loan max).

Or if you own the land outright, or are planning to purchase the land with cash, this loan will work for you too. The appraised value of the land goes towards the equity.

Designed for Manufactured, Modular, and Stick Built housing, this program offers an all-in-one financing option for construction, lot purchase (if needed), and permanent mortgage funding with one closing.


  • Our FHA OTC interest rates are extremely competitive
  • Interest rate is locked before construction begins
  • Max LTV 96.5% through FHA (as low as 3.5% down payment)
  • No payment due from borrower during construction


  • Stick-built, modular and manufactured single-family homes
  • Owner-occupied only
  • 620 minimum FICO
  • Sonoma County loan max $648,600
  • Available through FHA, VA and USDA