Construction Loans
FHA - 1 X Close Construction Loans
-
3.5% Down w/ 580+ FICO scores (includes land and construction)
-
10% Down w/ 530-579 FICO scores (includes land and construction)
-
Owner Occupied Only
-
Single Family Dwelling and Manufactured Homes
-
Builder can pay for Closing Costs and Interim Interest Payments (optional)
-
10-30 yr. Programs
-
Equity from owned land is Allowable
VA - 1 X Close Construction Loans
--0% down w/ 530+ FICO scores (includes land and construction)
--Owner Occupied Homes Only
--Single Family Homes Only
--Builder can pay for Closing Costs
--Builder must pay for Interim Interest Payments
--30 yr. Programs
--Equity from owned land is Allowable
--VA County loan limits apply
USDA - 1 X Close Construction Loan
--0% down w/ 620+ FICO scores (includes land and construction)
--Owner Occupied Only
--Manufactured Homes Only
--Builder can pay for Closing Costs
--Builder must pay for Interim Interest Payments
--30 yr. Programs
--Owned land is allowed
--USDA County income limits apply
--Visit the USDA Eligibility website for eligible properties