Construction loans provide the funding you need during the building process and the permanent mortgage — often wrapped into one loan. Whether you're building from the ground up, doing a major renovation, or buying a fixer-upper, Q Home Loans has loan officers specifically certified in construction financing who guide you through every step. We offer both one-time close and two-time close options depending on your build timeline and budget. Contact our construction team to discuss your project.
One-time close construction loans save you thousands in duplicate closing costs compared to two-loan approaches.
Lock your permanent mortgage rate at the start of construction — protecting you from rate increases during the build.
Custom construction means you get the layout, finishes, and features you want — not what's available in existing inventory.
Pay only interest on drawn funds during construction, keeping your costs lower while the home is being built.
One-time close loans automatically convert to your permanent mortgage when construction is complete — no second application.
Q Home Loans has experience with construction lending and can guide you through the draw process and builder requirements.
Get answers to common questions about construction loans.
A one-time close (OTC) construction loan combines the construction financing and permanent mortgage into a single loan with one application, one appraisal, and one closing. When construction is complete, the loan automatically converts to your permanent mortgage.
Funds are disbursed in stages (draws) as construction milestones are completed. An inspector verifies each milestone before funds are released to the builder.
Most lenders require a licensed general contractor. Owner-builder programs exist but are more limited and typically require significant construction experience.
Construction periods are typically 9–12 months. Extensions may be available if construction takes longer than expected.
Cost overruns are the borrower's responsibility. It's important to build a contingency buffer (typically 10%–15%) into your construction budget.
Q Home Loans specializes in construction loans for homebuyers in Washington, Idaho, and the Pacific Northwest.