Single Close Construction Loan
If you are thinking about building your own home, the HUD 184 loan program makes it easy! With the HUD 184 Single Close Construction loan, you only take out one loan for the construction and the mortgage. It is all done in one transaction! This saves time and money because you only have to apply for one loan and you avoid the closing costs on the second loan.
In addition to saving money, the HUD 184 Single Close Construction loan, or One Time Close Construction Loan, is a simple process.
- Summary
- Exclusive to American Indians and Tribes
- Low down payment
- Allows for easier financing
- Home can be on or off native lands
- Local decision-making
- Competitive rates
- Save money on reduced closing costs
- Hands-on personal service
- Assistance at every step
With HUD's One Time Close construction loans, you can use the funds for:
- The construction of a new home
- The purchase of a new manufactured or modular home, or
- The renovation of an existing home.
