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FHA construction loans

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Anonymous
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FHA construction loans

Does FHA do new construction loans and if so how much is usually required to be owner financed checked with our local bank and their conventional construction loan requires 20%.

Thanks

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1 REPLY 1
DallasLoanGuy
Super Contributor

Re: FHA construction loans

fha is a purchase loan, not a construction loan.

 

which means you can buy a new construction from a builder, but you cannot seek out a custom builder and bankroll the construction(construction loan)

 

 

Retired Lender
Message 2 of 2
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