I do know that FHA has a construction loan program. I am just not sure on the minimum credit score.
VA does allow a construction loan, the problem is finding a lender who offers them and knows how to do them.
Highly unlikely you could get a construction loan with that score - especially if you want 100% financing. CP loans are considered to have much more risk than a regular purchase loan.
They score should be the same requirement for a normal VA loan. Most of the ones I have seen that were done successfully were done with a larger builder who could front the money up front and get paid back when it was finished. I have never done one myself since most lenders don't actually provide them even though VA allows them. I would speak with some local banks and local builders to see what options you can find. Best wishes, Sean
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