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One Time Construction Loans

Have trouble finding your dream home? Build it instead or renovate a home today with a One Time Close Construction Loan from Vault Mortgage!


Homebuilding is an exciting process, but it can be daunting too. That’s why we offer our One-Time Construction Loan to help make the build and finish of your new home simple!

With this innovative financing option, you don’t need two loans for construction – just one low-rate loan that converts into a conventional mortgage once complete. Plus with interest-only payments until your home is complete, there are no extra costs or fees associated with getting started

Here’s what a construction loan from Vault Mortgage covers:

  • Land
  • Plans, permits and fees
  • Labor and materials
  • Closing costs
  • Contingency reserves (in case the project costs more than estimated)
  • Interest reserves (if you don’t want to make interest payments during building)

The biggest benefit of a one-time close loan like this is peace of mind. You only pay interest during the construction period, and once your home is complete, the interest rate will be locked in at the going rate. While we are not able to lock in the rate at the beginning of the loan, there is a rate cap.

  • Here are some of the major benefits of a One Time Close Construction Loan:
  • The minimum down payment is 5% – the more you put down, the less interest you’ll pay over the life of the loan
  • Cash reserves are required – the amount depends on the loan-to-value ratio of your loan
  • Interest-only loan during construction for up to 12 months, then modifies to a 15 or 30 year fixed rate loan once the home is complete
  • Eligible for primary residence or second home – no property juggling or worrying about selling and moving simultaneously!
  • You can choose your contractor, subject to Vault Mortgage verification
  • One (1) closing with a simple modification process finalizes your rate and payment once construction is completed

Here for you, every step of the way.

We’ve got the experience and the professional network to get your loan funded. If it can be done, we’re the ones who can get it done. You’ll have direct access to a friendly, communicative, professional Loan Originator who will walk you through every step of the process. If a problem ever pops up, you’ll be the first phone call with a solution.

26041 Predazzer Ln Suite A, Daphne, AL 36526

24951 Perdido Beach Blvd
Orange Beach, AL 36561

309 Richard Jackson Blvd, Suite 200,
Panama City Beach, FL 32407

Vault Mortgage LLC | NMLS# 1785021
Approved Lender in Alabama #22567 and Florida
MBR3074 www.nmlsconsumeraccess.org

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Vault Mortgage is a 68 Ventures Company. 
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Equal Housing Opportunity. Loan programs not available in all states, or to all consumers. All loans are subject to availability at the time of application and for terms that meet each individual consumer’s needs and qualification information. Loan applications are subject to credit and property approval. Vault Mortgage LLC encourages all consumers to consult with a tax advisor concerning the tax implications for the type of mortgage sought.