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Because 2 isn't always greater than 1.

Save time and money when you combine your lot purchase, construction costs and permanent loan into this single, all-in-one mortgage. While most construction loans require two separate closings—once for construction, and again for the permanent mortgage—Security National Bank allows you to close one time for both.


only qualify once


only pay for one closing


a single appraisal


fixed or variable rates

Remember, when you're building a home, and need a loan, 1 really is greater than 2.
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Have Questions?

Meet your home mortgage team. If you have any questions, call or send us a message now.

Julie Schmidt

Julie Schmidt

NMLS #:420240

(712) 277-6671

Janelle Noreen

Janelle Noreen

NMLS #:420242

(605) 232-6063

Sonia Locke

Sonia Locke

NMLS #:1170185

(712) 873-3131

Kaleigh Reid

Kaleigh Reid

NMLS #:1503749

(605) 977-9004

Other Frequently Asked Questions About Our Single Close Construction Loan

Q: How do single close construction loans work?

A: A construction-to-permanent loan (also known as a “single closing” loan) covers the construction of the loan, then converts into a permanent loan once the building is complete to save the buyer from twice the closing costs.

Q: Do I need a down payment?

A: Traditionally financed construction loans usually require a 20% down payment, however, if you qualify with us at SNB, your down payment could be as low as 10%.

Q: What is the minimum credit score I need to have to qualify for this loan?

A: The credit score varies, as we take into consideration other factors, including your annual income, down payment amount and debt-to-income ratio.

Q: How much are closing costs?

A: Closing costs vary, depending on your unique situation and loan. Ask one of our lenders for a more specific figure based on your scenario.

Q: How long does it take to build a house?

A: Every construction job is different. Your contractor should give you a timeline that's tailored to the house you're building before they break ground.

Q: Can I use the loan for an investment property?

A: It's possible. Be sure to talk to our mortgage department for answers specific to your situation.

Q: Can I do any construction work myself?

A: No.

Q: : Can I tear down an existing house and replace it with a new one?

A: It's possible — this is something we've had clients do in the past. Contact our mortgage department for more information.

Looking to Build a Home?

Here are a few links to open development lots in the the Sioux Falls area.