Single Loan Construction Program

What Is the Single Loan Construction Program?Applying for USDA Loans

Waterstone Mortgage’s Single Loan Construction program helps streamline the process of building your dream home and securing permanent financing. A single loan covers your construction costs and mortgage. One loan. One closing. One easy process.

Program Details

  • Finance up to 90% of your mortgage on a primary residence
  • Hassle-free draw process
  • Interest-only payments on fully financed amount during construction
  • Adjustable rate mortgage (ARM) and fixed rate options for permanent financing
  • Lock in a current interest rate before beginning construction, and avoid future rate increases

We’ll work with you from start to finish to ensure a smooth loan process, so you can focus on creating the home of your dreams.

Learn More About the Single Loan Construction Program Application Process

Contact Waterstone Mortgage today and a qualified home loan professional will walk you through the Single Loan Construction program application process and answer any questions that may arise. Get started with a pre-qualification!


Extended rate loan (>180 day & <360 days) subject to upfront rate lock fee, which may be refundable if loan closes and modifies. The actual cost of the extended rate lock varies depending on length of the rate lock period. Interim construction period not to exceed 12 months. Subject to credit approval and program guidelines. With Adjustable Rate Mortgage loans, the rate is variable and may increase or decrease every year after the initial fixed rate period based on changes to an index. This could result in an increase in the monthly payment.