FHA Construction to Permanent Loan (NJ)

[Abby Flynn]

Hellloooo BP community, 

I recently moved back home to NJ and have been on the hunt for my first property. While I am fine renting while I search for the right investment, my dream would be to build (for my own personal home). I recently came across this "FHA construction to permanent Loan" option which seems almost too good to be true, so I wanted to get some input on how this works and where I might be able to find a lender. What are typical down payment requirements? Are there any property conditions that would prohibit approval of this loan? What does this process look like overall?

TY In advance!