FHA new construction owner occupied one time close loan

[Jory A Hicks]

Hey everybody, I'm in southern Oklahoma, about an hour north of DFW. i have just gotten an acre under contract and want to do a one time close owner occupied construction loan. Looking for sub 10% down on this.. I know it exists somewhere but having a hard time finding it locally. Is anyone else having any luck with such loans? I know at one point you could do as little as 3.5% down. Thanks in advance for everyone on here spreading the good word..

[Mack Lengel]

I believe both FHA and USDA have construction loans but they aren't always easy to, lots of hoops, and most lenders won't do them even if they can.

10% down construction loans shouldn't be a problem for you to find. You could always refi after construction if needed (maybe interest rates will be lower at that point).