Bellevue’s resale market is among the most competitive in Washington State — homes sell in under 10 days, well-priced properties routinely receive multiple offers, and buyers face a constrained inventory that has defined Eastside real estate for years. For buyers who want a home designed specifically for their needs on one of the Eastside’s remaining buildable lots, or who want to tear down an aging home and build new in an established neighborhood, the One-Time Close
Construction Mortgage Loan provides the financing structure to make it happen without the complexity of traditional two-close construction lending.
Bellevue’s new construction landscape is concentrated in two distinct segments: infill and teardown activity throughout the city’s
established neighborhoods, where aging 1960s–1980s homes on desirable lots are replaced with custom builds suited to contemporary Eastside lifestyles; and downtown high-rise condo development, where projects like Avenue Bellevue and The Mari have added luxury vertical
inventory. For buyers building custom single-family homes — in Bridle Trails, West Bellevue, Somerset, or on available lots throughout the Eastside — One-Time Close Construction financing covers the full arc of the project in a single loan with one closing and a rate locked before the first shovel moves.
A One-Time Close Construction Loan — sometimes called a Construction-to-Permanent loan — combines three phases of financing into a single loan product:
Land or Lot Acquisition — Financing for your homesite, whether an infill lot in an established Bellevue neighborhood, a teardown property, or a standalone parcel on the Eastside
Construction Phase — Draw-based financing released as your builder hits defined milestones throughout the build
Permanent Mortgage — Automatic conversion to your long-term home loan at completion — no second closing, no re-qualification, no additional closing costs
Unlike traditional two-close construction financing, a One-Time Close loan locks your interest rate at origination — protecting you from rate movement during a build that may take 6 to 12 months — and eliminates the administrative burden and cost of a second closing.
Key Features:
Single closing — one set of closing costs
Rate locked at origination for the life of the loan
Interest-only payments during construction phase
Automatic conversion to permanent financing at completion
Works with all licensed Bellevue and Eastside builders
Available at Jumbo and Super-Jumbo levels for upper-tier custom builds
Rate lock protection critical given Bellevue's 12-18 month typical custom construction timeline
For custom builds above $1,063,750 — the standard tool for Bellevue single-family construction given the city's price tier
Portfolio and non-QM options for complex income profiles, including RSU income and tech-sector equity compensation
Extended construction timelines accommodated — Bellevue custom builds often run 12-18 months
For estate-scale custom builds in West Bellevue, Enatai, and on premium Eastside parcels
Portfolio lenders with experience in Pacific Northwest luxury construction and the specific land values of the Bellevue market
Fully custom programs for the most complex builds
For builds that fall within King County's $1,063,750 high-balance conforming limit
More common for downtown condo conversions and Eastside townhome projects than for standalone single-family custom builds in Bellevue proper
Infill and Teardown-Rebuild in Established Neighborhoods — Bellevue's most active custom build segment. Neighborhoods like NE Bellevue, Newport Hills, Factoria, and Eastgate contain aging single-family homes on desirable lots where the land value significantly exceeds the structure value. Buyers who acquire these properties, demolish, and build new gain a custom home in an established neighborhood with access to Bellevue's top-rated schools — without competing in the resale market. One-Time Close Construction programs accommodate the combined acquisition-and-build transaction structure.communities. Ivory Homes has a strong track record and a well-established One-Time Close construction financing process that works seamlessly with purchase financing.
West Bellevue and Enatai — A very limited supply of remaining lots and teardown opportunities in Bellevue's most prestigious neighborhoods. Custom builds here are estate-scale projects with total costs regularly exceeding $3–5 million, requiring Super-Jumbo One-Time Close programs and builder teams experienced at this level. Rate lock protection during the 12-18 month build cycle is particularly valuable given the transaction size.
Bridle Trails — Bridle Trails' wooded character and larger lots make it an active custom build neighborhood on the Eastside. Available lots — while limited — do come to market, and buyers building custom here benefit from the combination of privacy, school access, and proximity to the Microsoft-Redmond corridor. Jumbo One-Time Close programs are the standard financing tool.
Somerset and Cougar Mountain — Southeast Bellevue's view neighborhoods see custom build activity on available parcels, where the combination of elevated views and trail access drives buyers to build specifically for their site. Projects here routinely require Jumbo One-Time Close financing.
Redmond and Kirkland Adjacencies — For buyers whose priorities include Bellevue school access but more accessible land prices, adjacent communities offer more available lots at lower per-square-foot land costs. One-Time Close programs are available throughout the Eastside regardless of which King County city the build site falls in.
Experienced in One-Time Close Construction financing with custom builders throughout Bellevue and the Eastside
Jumbo and Super-Jumbo One-Time Close programs for West Bellevue, Enatai, and the Eastside's upper-tier custom build market
Experience with tech-sector income documentation — RSUs, stock options, and equity compensation — for construction loan qualification
Physician One-Time Close programs available for healthcare professionals building in Bellevue and King County
Understanding of teardown-and-rebuild transaction structures specific to Bellevue's infill market
Single point of contact from lot selection through move-in
20+ years of experience — NMLS #235295
Qualified Builder Required — Your builder must be licensed, insured, and approved through the loan underwriting process. Established Eastside custom builders are typically readily approvable; newer or smaller builders require additional credentialing documentation.
Construction Plans and Budget — Full plans, permits, and a detailed cost breakdown are required before underwriting for custom builds. Bellevue's permitting process should be initiated well in advance of the construction loan closing.
Strong Borrower Profile — Income, credit, and reserve requirements align with the appropriate Jumbo or Super-Jumbo program tier. Tech-sector RSU income documented with two-year vesting history. Asset depletion available for buyers with substantial investment portfolios.
Realistic Timeline — Custom single-family builds in Bellevue typically run 12-18 months given permitting complexity and build quality. One-Time Close programs are structured for these extended timelines, and the rate lock provides meaningful financial protection across a build of this duration.
Pre-Qualification — Review your income, assets, builder, and community to identify the right program.
Builder Approval — Your Eastside builder is reviewed and approved as part of underwriting.
Single Closing — One closing covers lot, construction financing, and permanent loan — before a single foundation is poured.
Construction Draws — Funds released as your builder reaches milestones. I coordinate with the builder throughout.
Completion & Conversion — Your loan converts automatically at completion. No second closing. No re-qualification.
Teardown-and-rebuild is one of the most common use cases for Bellevue One-Time Close Construction financing. The loan covers acquisition of the existing property, demolition costs, and full construction of the new home in a single transaction — with rate locked at origination. I handle the structure for this regularly with Bellevue buyers.
Yes. RSU income with a documented two-year vesting history is fully eligible for Jumbo construction loan qualification. I work with Microsoft, Amazon, and other Eastside tech employee profiles regularly and understand the documentation requirements for equity-compensation-based qualification.
Yes. Physician One-Time Close programs allow qualifying healthcare professionals to build in Bellevue and throughout King County with favorable terms — including Jumbo loan amounts at reduced down payment and no PMI, given that virtually all Bellevue single-family construction requires Jumbo financing.
Rate lock terms vary by program but typically range from 12 to 24 months — covering most Bellevue custom build timelines. Given the size of Jumbo and Super-Jumbo transactions in this market, the financial benefit of locking a rate before construction begins rather than floating through a 12-18 month build is substantial.
Building your new home in Bellevue starts here. Let’s talk through your builder, your site, and your timeline.
Originally from Harrisburg, Pennsylvania, I moved to Phoenix to attend Arizona State University and have proudly called Phoenix home ever since.
My journey into the mortgage industry began with a friend’s encouragement, who saw how my energy and people-first mindset could make a difference. He was right — I found my calling.
I’ve always embraced what makes me different. With ADHD as my secret weapon, I thrive in fast-paced, detail-heavy environments. I’ve built my career on clear communication, creative problem-solving, and putting clients first, always.
Outside of work, my greatest motivation is my wife and three amazing kids. I’d be honored to help guide you through your lending journey with care, clarity, and commitment.
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