USDA Construction Loan


Build your dream home with 100% financing.

Your dream home starts here with Greenway’s USDA One Time Close Construction Loan. With 100% financing and a low minimum credit score, this program is designed to provide you flexibility and affordability, so you can build your perfect home – all with just one application and one closing.

one application; one close; one loan


  • Consolidate construction and purchase price for only 1 set of closing costs and fees.
  • Purchase a tear down property.
  • If you already own an empty property and want to build a home, tear down and put up a new one, or do a major renovation on an existing home.
  • Pay just interest-only payments during construction.
  • Avoid requalification post-construction.
  • Simple & flexible draw process with no set schedule.
  • Use qualified licensed builder of your choice (self-build not allowed)


Be sure to check out our Standard, FHA and VA Programs too:


How Do Construction Loans Work?

Overall Process:
  • Builder Approval
  • Project Approval (appraisal, plans and specs, costs from builder)
  • Borrower Credit Approval
  • Initial Draw at Close (up to 50K) to get project started and/or reimburse for any materials already purchased

Construction Period
  • Post close welcome call from construction management company
  • Inspections done as work is put in place, then checks for draws issued to builder and borrower
  • Once work is done, loan is modified into a standard 30 year fixed loan at present market rates (vs. the interest only loan in place during construction). Borrower is able to pay down balance on converted loan in the event other property they owned has been sold in the meantime. *NO CLOSING COSTS*

Specialized Features
  • Stalled projects
  • Modular construction
  • Major renovations (projects beyond scope of renovation programs)

*Finance up to 90% of project (purchase price + cost to construct). Eligibility requirements, exclusions and other terms and conditions apply.

Have questions about Greenway's USDA Construction Loan? Fill out the form below.