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Updated about 9 years ago,

User Stats

38
Posts
10
Votes
Mike Fitzgibbons
  • West Dennis, MA
10
Votes |
38
Posts

Anyone familiar with FHA New Construction Loans?

Mike Fitzgibbons
  • West Dennis, MA
Posted

I'm wondering if anyone has used a lender that offer a 3.5% down FHA new construction loan. Not a 203k reno but actually buying land and building new construction. I've found a few options for 10% down new construction loans but I can't find much for FHA 3.5% down. The only one I know of is offered by First Guaranty Mortgage Corporation but they have some guidelines that I cannot meet due to the location of the land.

Most brokers I've spoken with haven't even heard of this type of loan. Anyone?

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