Building Your Dream Home in Goodyear, AZ: Everything You Need to Know About Single Close Construction Loans
Hi, I’m Bob Fabian with GO Mortgage. If you’re considering new home construction in one of the fastest-growing cities in America, you’ve landed in the right place. Today I’m breaking down why single close construction loans in Goodyear, AZ (also called one-time close loans) are quickly becoming the smartest way for homebuyers and builders to turn desert dirt into a custom dream home—without the headache of two separate loans and two separate closings.
Why Goodyear, Arizona is Booming in 2025
Goodyear’s population has exploded from a small World War II-era airfield town to over 105,000 residents—and it’s still growing faster than almost any city in Arizona. Located just 20 minutes west of downtown Phoenix, Goodyear offers wide-open space, mountain views of the stunning Estrella Mountains, and family-friendly amenities like Estrella Mountain Regional Park and Goodyear Ballpark (spring training home of the Cleveland Guardians and Cincinnati Reds).
With new master-planned communities popping up across the city, buyers are snatching up lots and building everything from production homes to fully custom estates and even modular homes. The only challenge? Traditional construction financing can feel like a rollercoaster. That’s where a single close construction loan changes the game.
What Exactly Is a Single Close Construction Loan?
A single close construction loan—sometimes called a one-time close loan or construction-to-permanent mortgage—is a loan program that combines both the construction phase and the long-term mortgage into one loan, one application, one set of closing costs, and one closing date.
Compare that to the old way:
- Separate construction loan (short-term, higher interest rate)
- Separate permanent mortgage
- Two separate closings
- Double the paperwork, fees, and stress
With a true single close program, you qualify once, lock your interest rate, and seamlessly roll from construction draws into your permanent mortgage the moment your certificate of occupancy is issued.
Popular Single Close Loan Options Available at GO Mortgage
At GO Mortgage, we offer multiple programs tailored to different buyers:
- FHA One-Time Close – As low as 3.5% down, perfect for first-time homebuyers or those with limited cash reserves. The Federal Housing Administration backs these loans, making them more forgiving on credit and income requirements.
- VA Construction Loans – 0% down for eligible veterans and active-duty members building in Goodyear or anywhere in Arizona.
- USDA One-Time Close – 0% down for eligible rural/suburban areas (some parts of far-west Goodyear still qualify).
- Conventional One-Time Close – As low as 5% down with excellent rates for borrowers with stronger credit and reserves.
No matter your situation, our dedicated team will run the numbers side-by-side, so you pick the program that fits your life—not the other way around.
How the Single Close Process Works Step-by-Step
- Pre-approval – We review income, credit, and cash to get you fully underwritten up front.
- Find your land or lot – Already own land in Estrella, Cantamia, or north Goodyear? Great—no problem.
- Choose a reputable builder – We only work with reputable builders who are pre-vetted and familiar with the one-time close process.
- Submit plans & cost breakdown – Your contractor provides detailed specs and a draw schedule.
- One-time closing – Sign once before the slab is even poured.
- Construction phase – Funds are disbursed to your builder as milestones are hit (inspections required).
- Modification to permanent – Once the house is complete, the loan automatically converts to your 30-year (or 15-year) mortgage. Zero re-qualification. Zero second closing.
Total time from shovel-to-move-in: typically 10–14 months in the City of Goodyear right now.
Common Questions Goodyear Buyers Ask Me Every Week
Do I need to own the land first? No. You can buy the land and build with the same single loan or roll an existing lot payoff into the new mortgage.
Can I act as my own general contractor? On FHA and VA one-time close loans—yes, in many cases (with proper licensing). Conventional programs usually require a licensed, reputable builder.
What if rates drop while my house is being built? Many of our programs offer a one-time float-down option if rates improve significantly.
Are modular or manufactured homes allowed? Absolutely. As long as the home is placed on a permanent foundation and meets local Goodyear building codes.
How much cash do I really need? For an FHA single close, expect 3.5% of the total project cost (land + construction + soft costs). VA and USDA can be true zero down.
Ready to Break Ground on Your Goodyear Dream Home?
Whether you’re eyeing a lot with views of the Estrella Mountains, a new phase near Goodyear Ballpark, or a quiet acre north of I-10, a single close construction loan is the simplest, most cost-effective way to make it yours.
