One loan to build your home and start building your equity right away
Combine construction financing, your permanent mortgage, and everyday banking into one loan designed to save you thousands over the life of your loan by lowering your principal daily while keeping funds accessible — even while you're still building.
What is All In One Loan One-Time Close Construction-to-Permanent financing?
The All In One Loan® Construction-to-Permanent Loan is a one-time close construction loan that combines construction financing, long-term home financing, and everyday banking in one flexible account. You close once before construction begins, and funds are released in stages as work is completed. When the home is finished, the same loan remains in place, so there is no second closing or need to refinance into a separate mortgage. What makes this construction loan different is its connected sweep-checking account: the All In One Loan factor. Once activated, income deposited into the account automatically lowers your outstanding loan balance, which may reduce the amount of interest that accrues and help you build equity faster. Your available funds are not locked away, either. You can access them when needed for everyday expenses or future financial goals. This gives you a way to finance your new home, put your income to work during construction, and continue managing your mortgage more efficiently after you move in.
Highlights
All In One Construction-to-Permanent Loan features
Comparing the All In One Loan to traditional Construction Loans
|
|
All In One Loan® Construction |
Traditional Construction |
|---|---|---|
|
Closings |
One closing |
One closing |
|
Loan structure |
Construction financing, long-term financing, and checking in one account |
Construction loan that converts into a traditional mortgage |
|
Interest rate |
Variable |
Fixed or adjustable, depending on the program |
|
During construction |
Deposited income helps lower the outstanding balance |
Interest-only payments (do not lower principal) |
|
After construction |
The same line of credit continues |
The loan converts into a standard mortgage |
|
Access to equity |
24/7 access built into the loan without a new application or refinance |
Usually requires an application for a HELOC, home equity loan, or refinance |
|
Best for |
Borrowers who want to put their income to work while keeping funds accessible |
Borrowers who prefer a traditional mortgage and more predictable payments |
The All In One Loan may be a good fit if you want to...
- Build a new primary residence or eligible second home
- Finance construction and permanent financing with one application, loan, and closing
- Start building home equity during construction
- Lower your loan's principal with every paycheck
- Have 24/7 acces to home equity without refinancing
- Potentially save tens of thousands on interest costs, no matter the rate, without changing your budget
What to consider before getting an All In One Construction Loan
An All In One Construction Loan can be great for many different reasons, but it's important to keep in mind the following:
- It is a home equity line of credit, so the interest rate and payment may change over time
- Your long-term mortgage is established before construction begins
- The program is for eligible ground-up construction, not renovations or most self-build projects
- Construction costs must be fixed and itemized before closing
- Your builder, plans, budget, and draw schedule must meet program requirements
Property & construction eligibility
Eligible projects may include:
- Single-family primary residences
- Single-family second homes
- Eligible modular homes
- Two- to four-unit primary residences
- Properties with up to 10 acres
- Fixed-price construction contracts with itemized costs
- New construction completed by an eligible professional builder
Generally not eligible:
- Renovation or remodeling projects
- Manufactured homes
- Self-build projects
- Cost-plus construction contracts
- Mixed-use properties
- Cooperatives or leasehold properties
- Properties located on tribal land
- Log, dome, earth, geothermal, or other unique homes
General requirements for an All In One Construction Loan
- Minimum 720 credit score
- Loan amounts from $100,000 to $3 million
- Up to 80% financing, depending on loan amount
- At least 10% of your own funds required for purchase transactions
- Primary residences and eligible second homes
- Single-family homes, eligible modular homes, and qualifying 2- to 4-unit primary residences
- New, ground-up construction only (no tear downs)
- Professional builder and fixed construction budget required
- Not currently available in Texas or New York
How it works
1. Apply and review plans. We review your finances, property, builder, construction contract, budget, and plans to determine whether the project meets program requirements.
2. Close before construction begins. You complete one closing that establishes your construction financing and your future mortgage.
3. Begin construction draws. Funds are released from the line of credit as work is completed according to the approved construction draw schedule. Most projects use six to 12 draws, but witht he All In One Loan you can extend to up to 24 months.
4. Make usual income deposits. Soon after the first construction draw, your connected checking account is activated. Deposited income begins reducing the outstanding balance used to calculate interest.
5. Complete construction & keep using All In One Loan. After construction, the same line of credit remains in place as your permanent home financing. There is no second closing or required refinance, and you retain access to available funds for up to 30 years.
Frequently Asked Questions
We’re here to help! Find answers to your everyday banking questions.
It is a one-time close construction loan that combines construction financing, long-term home financing, and everyday checking in one account. You close once before construction begins, and the same loan remains in place after your home is completed.
Unlike a traditional construction loan, the All In One Loan® includes a connected sweep-checking account. Income deposited into the account lowers the outstanding loan balance used to calculate interest, while available funds remain accessible for everyday expenses.
Your income is deposited into the checking account connected to your loan. Those deposits automatically reduce your outstanding balance. You can still access available funds for purchases, bills, and other expenses through checks, transfers, or a debit card.
No. Deposits lower your outstanding balance while the money remains in the account, but available funds can still be accessed when needed. Withdrawing money increases the outstanding balance.
The sweep-checking account is generally activated soon after the first construction draw. Once activated, your deposits can begin working against your outstanding balance while your home is being built.
Construction funds are released in stages, called draws, as work is completed. CMG’s Construction Lending Department manages the approved draw schedule, which typically includes six to 12 draws.
The All In One Loan® continues as your long-term home financing. You do not need to complete a second closing or refinance into a separate mortgage.
No. The All In One Loan® is structured as a 30-year home equity line of credit with a variable interest rate. Because the rate can change, your payment and borrowing costs may also change over time.
Interest is based on the outstanding loan balance, not simply the total amount available through the line of credit. Construction draws and other withdrawals increase that balance, while deposits help lower it.
A minimum 720 credit score is generally required. Income, debt, financial reserves, property eligibility, construction plans, and other qualification requirements also apply.
Qualified borrowers may finance between $100,000 and $3 million. Maximum financing ranges from 70% to 80% of the property value or construction cost, depending on the loan amount and transaction.
For purchase transactions, borrowers must contribute at least 10% of their own funds. Gift funds may also be permitted for eligible occupancy types, subject to documentation requirements.
The loan may be used for eligible land acquisition and ground-up construction. If you already own the land, its value may be considered as part of the transaction. The calculation depends partly on how long you have owned it.
Eligible properties may include single-family homes, qualifying modular homes, and two- to four-unit primary residences. Eligible single-family second homes may also qualify. Properties are generally limited to 10 acres.
No. The program is intended for new, ground-up home construction. Renovations and remodeling projects are not eligible.
Construction is generally expected to be completed within 12 months. Extensions of up to 24 months may be available in qualifying situations, although additional fees may apply.