Dream Home Financing

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  • Construction Loans Simplified

    1. Find a Piece of Land or Use a Lot You Already Own
    2. Home buyers, Homeowners and even folks looking for a Vacation Home can use Construction Loans
    3. You can build a traditional stick-built, modular/pre-fab or double or triple-wide manufactured homes
    4. Not just Conventional or bank portfolio products anymore - there are FHA, USDA and VA Construction Loans too! Some Construction Loan products do not even need a down payment!*

  • When should you consider a Construction Loan?

    *If you can't find the home you want in the right location
    *If you want to avoid large track builders and pre-planned subdivisions
    *If you want to have a true custom home
    *If you want to tear down an old home and build a new one
    *If you already own the land and are ready to build your dream home

  Construction Loans...

Building a new home is the opportunity to leave a mark and design the perfect backdrop for your memories." ~Alissa DeGroote, Builder Blueprint

Fannie Mae Single Close Construction

A Conventional single close construction to permanent loan that follows Fannie Mae guidelines.  This means as little 5% down on a primary residence and 10% down on a 2nd/Vacation Home.

Freddie Mac One-Time Close Construction

Similar to Fannie's Single Close Construction loan, but follows Freddie Mac's guidelines which are slightly different compared to Fannie Mae on things like student loans, for example.

FHA One-Time Close Construction

FHA One-Time Close Construction loans allow you to choose your own lot or use one you already own to build a new primary residence following FHA's guidelines which means as little as 3.5% down!


VA One-Time Close Construction

VA One-Time Close Construction Loans allow qualifying Veterans and Active Duty Military to buy land (or use their own) and build a brand new home.  You may even not need a down payment depending on your available entitlement!

*VA Renovation and USDA Renovation do not automatically require a down payment.

Home in Maryland

USDA One-Time Close Construction

USDA One-Time Close Loans allow qualified borrowers in eligible rural areas to buy land (or use their own) and build a brand new home. 100% financing up to the appraised value!


*VA Renovation and USDA Renovation do not automatically require a down payment.

The Acela Mortgage Team offers a wide array of construction loans for all kinds of borrowers: first timers, veterans, rural buyers, and even vacation and 2nd homes! These types of loans are designed to cover the cost to acquire the land (if not already owned) along with the money to build a new home in a single mortgage transaction, single loan, single payment, single down payment (if applicable*). Each program has their own distinct advantages. Make sure to speak with Adam to learn about all of your options and which one could work for you.  Your Dream Home Financing solution is right here!

*VA Renovation and USDA Renovation do not automatically require a down payment.


If you’d like more information on Construction Loans fill out the contact form below.  If you’re ready to apply and get preapproved, click “Get Started”!



Adam Backes
NMLS# 653829
DC, DE, FL, MD, NC, PA, SC and VA
Norcom Mortgage
NMLS #71655


Adam Backes - Acela Mortgage Team

(410) 610-4965
2139 Espey Court
Suite 1
Crofton, MD 21114

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