Construction financing built for builders
Experience the convenience of a Single Close loan — your complete one-time close construction loan solution for new builds, whether site-built, modular, or manufactured homes.
Why builders prefer Single-Close with Fairway
Fairway simplifies builder construction financing with one closing, interest-only payments during construction, and automatic conversion to permanent financing upon completion. Perfect for those seeking a modular home construction loan or manufactured home construction loan, our streamlined process delivers rate protection, predictable draws, and a faster path from foundation to finished home.
• One closing that covers land, construction, and permanent loan
• Interest-only during the build, then automatic conversion to permanent financing at completion
• Centralized draw management with clear milestones and inspections
• Rate protection options available based on product and market
• Fewer moving parts for your buyer and your back office
Eligible property types: site-built homes, modular homes, and manufactured homes, if eligible under investor and property guidelines.
Product availability can vary by state and scenario. All loans are subject to credit approval and collateral review.
How it works for buyers
Fairway’s Single-Close Construction Loan streamlines the entire build process with one convenient closing that covers land, construction, and permanent financing — saving time and reducing risk for both builders and buyers. During construction, payments are interest-only, then the loan automatically converts to permanent financing once the home is complete.
Builders benefit from centralized draw management with clear milestones, predictable disbursements, and a responsive construction team that keeps projects moving. Buyers enjoy fewer moving parts, rate protection options, and the simplicity of one closing before construction begins. Available for site-built, modular, and eligible manufactured homes, Single-Close delivers faster sales cycles, fewer cancellations, and smoother coordination from start to finish — making it the preferred choice for builders and homebuyers alike.
Prequalify the buyer and register the build.
Approve the builder with Fairway.
Underwrite plans, specs, budget, and comps.
Close once before the first shovel hits dirt.
Draws fund to the project per approved schedule.
Certificate of Occupancy triggers conversion to the permanent loan.
Get approved with Fairway
Builder benefits
Faster sales, predictable draws, and a team that keeps projects moving.
Faster sales cycle
Fewer cancellations at second close.
Predictable draws
Predictable draws and title updates keep subs moving.
Clear change orders and a dedicated team
A clear change-order process and contingency handling, and a dedicated construction team that answers the phone.
Business information and license
W-9 and business information, plus a state or local contractor license where required.
Insurance
General Liability Insurance, and workers' comp if applicable.
References
Trade references and a recent project list.
Builder guide
Factory-built homes: builder guide
Factory-built homes can shorten cycle time and improve cost control. We support modular and manufactured homes that meet investor and property standards.
Draw management
Draw schedule set at underwriting and tied to verified milestones. Expect standard milestones such as site prep, foundation, dry-in, mechanicals, finishes, and final. Factory-built projects add set and finish milestones.
Site prep
Foundation
Dry-in
Mechanicals
Finishes
Final
With every draw:
• Title updates and lien waivers required with each draw
• Inspections ordered by the construction team to validate progress
• Change orders reviewed and approved before funding
• Retainage may apply until final completion
Talk to a Fairway Professional
Inquire to learn more about Fairway Construction.
FAQs for builders
Questions about a build? Email the construction team at [email protected]
This varies based on the project's construction cost:
$1 – $250,000: 5 draws
$250,001 – $500,000: 8 draws
$500,001 – $750,000: 10 draws
$750,001 – $1,000,000: 12 draws
Over $1,000,000: varies by project
If a contractor requests a draw schedule in excess of the allocated amount, it should be noted in the construction contract with the proposed draw schedule as submitted by the contractor. Draw count follows the approved schedule and scope. Fewer, well-timed draws reduce paperwork and keep work moving.
Submit change orders before the work is started. If contingency funds are available, change orders may be approved using available contingency funds. We update the budget and schedule.
Soft costs can be eligible if included in the approved budget and within product limits.
Verified lot equity can count toward required funds if it meets valuation and title requirements.
Locks are through completion/modification with a review for a free float down when there has been market improvement. Talk to the construction team for the current menu.
Our draw administration team orders third-party inspections that match draw milestones. Inspections can be done in person, virtually or via contractor mobile app photo upload.
Building for a Fairway buyer?
Start your builder approval today, or email the construction team at [email protected].
