FHA and VA One Time Close Construction Loans
February 23 2017 Posted by Ryan Meyer
Very excited to announce we now offer FHA 3.5% down payment and VA 0% down payment construction to permanent mortgage loans, combining the features of a construction loan and a traditional long term 15 or 30 year fixed rate residential mortgage loan with a single loan closing prior to the start of construction.
We can include the purchase of the lot along with the build into one close. We have one local builder (Lee County, FL) that has already been approved with our lender. Their entry level home 3/2/2 1449 under air starts at $172,900. They have several models to choose from and construction takes 3-4 months.
Remember, this is an FHA/VA product so if you qualify for an existing home with an FHA/VA mortgage, you can build your own home! With affordable housing becoming harder and harder to find, this is a great option for individuals and families looking in that $180,000 - $270,000 range.
Feel free to call me if you would like more details.