question on construction loans

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.

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.

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!!