FHA Construction Loans Offer Affordability and Flexibility
Posted by Dietchi Thomas on
FHA Construction Loans Offer Affordability and Flexibility
Most banks and lenders will lend up to 80% or less on a construction to permanent scenario. But for borrowers in NC and SC, we have great options for building a new dream home. We combine the flexibility of an FHA loan with the benefits of construction financing. FHA construction loans allow land owners to build a custom home, often with no down payment necessary. There are some additional requirements when comparing FHA construction loans with using FHA to buy an existing home. Currently there are rules which require ownership of the land for 6 months. Prior to ordering the FHA case file number, the land must be owned for 6 months. Check out the reasons to call us for building…
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