Building in Jackson is not the fallback option — it’s the strategic one. With 97% of Teton County permanently off the development table as federal or conservation land, the resale inventory for move-in-ready homes above $2M is thin, competitive, and frequently off-market. Porter Ranch, a 79-lot subdivision south of town on former Gill family agricultural land, is the valley’s first major residential development in over 30 years. Lots are priced from $700,000 to $1.2 million with Teton views. Custom builders including New West Building Company, JH Builders, and Wilson Design+Build are actively constructing on these parcels, with additional phases of the Gill family’s broader development expected to begin infrastructure work in 2026.
For buyers with the right lot — whether Porter Ranch, a West Bank parcel, or privately held agricultural land — One-Time Close Construction financing solves the biggest financial risk in a Jackson build: getting locked into a lot purchase and a construction contract without knowing what rates will look like 18–24 months from now.
Ryan Lehrman, NMLS #235295, structures One-Time Close Construction loans for Teton County’s custom build market across Standard, Jumbo, and Super-Jumbo tiers.
A One-Time Close Construction loan replaces the traditional two-step process — a construction loan followed by a separate permanent mortgage — with a single transaction:
Phase 1 — Close Once: One loan, one set of closing costs, one rate lock before construction begins. The rate is secured before a shovel hits the ground.
Phase 2 — Construction Period: Funds are disbursed in draws to your contractor as construction milestones are met. Interest-only payments during the build.
Phase 3 — Permanent Conversion: When the certificate of occupancy is issued, the loan converts automatically to your permanent mortgage. No second closing, no second appraisal, no refinance risk.
Key Features:
Single close, single rate lock before construction starts
Interest-only payments during the build period
Automatic conversion to permanent financing at completion
Available in Standard, Jumbo, and Super-Jumbo configurations
Physician One-Time Close available for eligible professionals
For builds where the total loan amount falls within the Teton County high-balance conforming limit of $1,249,125. Appropriate for lot-plus-construction costs in the lower range of the Porter Ranch market.
For the majority of Teton County custom builds, where total project cost exceeds $1,249,125. Competitive structures for primary residences and second homes; available with down payments from 20% on qualifying programs.
For estate-scale builds in Crescent H Ranch, along Fall Creek Road, on the Snake River bench, or on legacy agricultural parcels. Loan amounts into eight figures. Asset depletion and bank statement qualification available.
For physicians at St. John’s Health who want to build rather than buy. Same favorable student loan treatment and no-PMI structure as the standard physician loan, applied to a construction-to-permanent framework.
Porter Ranch is the most significant new residential development in Teton County in over 30 years. The 79-lot subdivision on South Park Loop Road offers fee-simple lots — a rare commodity in a valley where buildable private land had effectively disappeared — with mountain views and proximity to downtown Jackson. Lots run $700,000 to $1.2 million. Wilson Design+Build and New West Building Company are among the active builders on site.
Beyond Porter Ranch, custom builds in Teton County are individual projects on private parcels throughout the valley. The county’s own housing pipeline as of January 2026 shows 228 deed-restricted affordable and workforce units under construction — separate from the market-rate custom build sector where One-Time Close financing applies. For market-rate buyers, the private parcel inventory is limited and moves quickly when it surfaces.
One-Time Close programs across Standard, Jumbo, and Super-Jumbo tiers for Teton County builds
Physician One-Time Close for St. John's Health physicians building in the valley
Rate locked before construction begins — eliminates refinance risk on an 18–24 month Jackson build timeline
Experience with Teton County's permitting environment and construction draw schedules
Direct communication with your builder, general contractor, and title company throughout the build
NMLS #235295
Property: Must be a single-family primary residence or second home on a fee-simple lot in Teton County; lot must be owned or purchased simultaneously with the construction loan
Builder: General contractor must be licensed, insured, and approved; Teton County requires specific permits for all new residential construction
Income: Standard documentation for conforming; full doc, asset depletion, or bank statement for Jumbo and Super-Jumbo tiers
Equity/Down Payment: Typically 20%+ of total project cost (lot plus construction); lot equity may count toward down payment requirement
Consultation — Review your lot, builder relationship, construction budget, and timeline. Identify which program tier — Standard, Jumbo, or Super-Jumbo — applies to your total project cost.
Builder Approval — Your general contractor submits credentials, license, and insurance for lender approval. Most established Teton County builders are familiar with this process.
Appraisal — A "subject to completion" appraisal values the finished property based on plans and specifications. This is the value used to set the loan amount.
Close — One closing before construction begins. Rate is locked. Draw schedule is established with your builder.
Build and Convert — Interest-only payments during construction. Draws released at milestones. Automatic conversion to permanent financing at certificate of occupancy — no second closing required.
Jackson build timelines typically run 18–24 months due to permit queues, seasonal construction windows, and the complexity of custom builds at this price tier. A two-close structure leaves borrowers exposed to rate movement for the entire construction period. In a market where loan amounts routinely exceed $3M, a 50-basis-point rate movement is a significant annual cost. One-Time Close eliminates that exposure entirely.
Yes. Existing lot equity counts toward the down payment requirement and is factored into the LTV calculation. Buyers who purchased a Porter Ranch lot — or any Teton County parcel — and are now ready to build can use that equity in the One-Time Close structure.
Yes. Residents and fellows with signed employment contracts are eligible for Physician One-Time Close programs. The loan amount, timeline, and qualification requirements follow the same physician loan structure — with the construction-to-permanent conversion built in. Given typical Jackson build timelines, residents who close at the beginning of their training may complete construction around the time they transition to attending income.
Active builders in Teton County include New West Building Company, JH Builders, Wilson Design+Build, Mill Iron Timberworks, and several boutique custom contractors with established track records in the valley. We can connect you with builders currently working in Porter Ranch or elsewhere in the county based on your project scope.
Building your new home in Jackson 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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