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question on construction loans

We are trying to build our home in Alexander, KS. Do you know of a bank or lender who will only require 10% down or less on Construction Loans? by silverlining843 from Alexander, Kansas. Nov 4th 2013 Reply


Larry Gray (lgray_312_247)
#596 ranked lender in California - 1,139 contributions

Yes, FHA does offer one, however, we only offer major rehabilition in our FHA 203Kloans. There are a few lenders out there that can provide the new construction loanfrom FHA. Keep checking! I know someone in CA only.

Nov 4th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

Check with local community banks and possibly credit unions, most of the major lenders are still capped at 80 or possibly 85% for a strong borrower, but I know in this area 90% is available from a few different lenders.

Nov 5th 2013
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Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

Hello, the one poster is correct, FHA offers a construction loan that allows as little 3.5% down. If you own and have equity in the land, you can use that for the downpayment and in effect put 0 down. I offer this program nationwide. If you would like to discuss or get more information, please reach me at 301-651-7822 or by email at robhanson@emortgagegroup.com. Thanks!!

Nov 5th 2013
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