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New product fills market void for self-employed and investor clients seeking to build homes

October 24, 2022 – COLUMBUS, Ohio – GO Mortgage, a nationwide, independent mortgage bank licensed in 36 states and the District of Columbia and a subsidiary of GO Companies, today launched an innovative non-QM construction loan program designed to provide greater options and a smoother financing experience for self-employed borrowers and real estate investors seeking to build a home.

The new Non-QM Single Close Construction Loan can be used to finance up to 90% of a borrower’s home construction for loans up to $2 million. The program is perfect for borrowers who do not qualify for new construction financing through standard income qualifications. Instead, a borrower’s income can be qualified through 12 to 24 months of bank statements, or on a debt service credit ratio (DSCR) basis using the expected rents on an investment property.

As one of the first of its kind in the industry, the program was designed to give more borrowers the green light to financing that fits their needs while providing simplicity, speed and flexibility, said GO Mortgage CEO Michael Isaacs.

“Too often, our loan officers were encountering clients who could afford to build, but do not qualify through conventional means or were discouraged by the complicated nature of construction lending,” Isaacs said. “Our new program solves both of these issues, so that any self-employed borrower, business owner or private investor can achieve their homebuilding goals and isn’t left standing on the sidelines.”

The Non-QM Single Close Construction Loan can be used for primary residences, second homes or investment properties, including duplexes, non-warrantable condos and manufactured housing. While the program offers the ability to put down as little as 10% toward new home costs, borrowers can also qualify 80% financing and pay no mortgage insurance with a minimum 680 FICO score. With a 720 score or higher, they can qualify for up to 85% LTV and pay no mortgage insurance.

During the construction phase, GO Mortgage will provide financing at an interest only rate. After construction is complete, borrowers do not have to refinance their construction loan into a permanent loan and then encounter a second closing, which is typical of most construction loan products.

The program allows a maximum build time of 24 months. Borrowers can lock their permanent loan rate within 60 days of the construction’s completion.

GO Mortgage is an experienced home construction lender and one of the largest sellers of construction loans to Fannie Mae. The company handles the entire financing process in house, including builder approvals, inspection services and funding draws, so the company can better control costs compared to lenders that outsource these processes.

By enabling more borrowers to finance the building of their own homes, the Non-QM Single Close Construction Loan program can also help alleviate the nation’s shortage of housing inventory, Isaacs said.

“Our mantra is ‘no loan left behind,’” Isaacs said. “It’s demoralizing to miss any opportunity to help someone achieve their homeownership goals, so our job is to make sure we have every product under the sun that a client may need. And when borrowers can’t find the financing they’re looking for, we’ll create it for them.”

To learn more about GO Mortgage’s Non-QM Single Close Construction Loan program, visit


About GO Companies
Go Companies, LLC is a holding company designed to provide a one-stop experience for consumers desiring to buy or build a home, including end-to-end real estate brokerage, mortgage financing, title Insurance and property and casualty insurance services. GO Companies was founded in 2021 and is headquartered in Columbus, Ohio. For more information, visit