With a one-time-close loan, you apply once, much like a regular mortgage. The lender reviews your income, credit, and down payment, then orders an appraisal based on your finished plans and your lot. That appraisal sets the value of your home before the first footing is poured.
While your home goes up, you pay interest only on the money drawn so far, not the full loan amount. The lender releases funds to your builder in stages called draws, each tied to completed work like the foundation, framing, or roof. When those interest payments are made depends on your lender: many bill monthly during the build, and some set up an interest reserve so you pay nothing out of pocket until the loan converts.
With a construction-to-permanent (one-time-close) loan, the loan converts to a standard mortgage when your home is complete, typically without a second closing, and most lenders will not ask you to requalify. You move in and start making regular principal-and-interest payments on your finished home.
Use this calculator to get a feel for what your construction loan and monthly payment might look like, including property taxes for the city you build in, insurance, and HOA dues if any. The results are estimates only, not a loan offer, and your lender will confirm actual rates and terms.
Property taxes default to 0.37% for Scottsdale (Maricopa County), the average effective rate as of July 2026, and are editable. Your parcel will differ. Insurance defaults to the Arizona average of about $600 per year per $100,000 of home value as of July 2026, and is editable. Arizona values property in the year before taxes are billed, and bills are paid in arrears in two installments (October 1 and March 1), so a newly built home's first tax bill is usually based on a valuation set before the house existed. Under ARS 42-15105, construction completed after the valuation snapshot is picked up later through a supplemental Notice of Value that the county assessor must issue by September 30 of the valuation year. As a result, the first bill or two often reflects the land only, and buyers should expect the bill to step up to the full home value within one to two years after closing.
Estimates only, not a loan offer, quote, or preapproval. Assumes draws spread evenly across the build and excludes closing costs. Taxes, insurance, and HOA dues are editable estimates based on published averages, not your parcel or policy. Your lender's terms will differ. Enter the rates from your own quote for the closest estimate.
Our clients finance their builds with all kinds of construction lenders: local Arizona banks, credit unions, and national construction-to-permanent programs. Work with whoever fits you best, and we will coordinate draws, inspections, and closing paperwork with any lender you choose. If you want a starting point, ask us and we will introduce you to loan officers we know handle custom builds well.
Jematell Homes is a home builder, not a lender or loan broker. An introduction is free, completely optional, and never required to build with us.
Relax while we manage every detail, throughout the entire process. Tell us about your vision, and we'll be in touch to schedule a consultation.