Construction loans are short-term, interest-only loans used to build on undeveloped land. Qualification for FHA construction loans requires a 3.5% to 10% downpayment and a credit score of 500+.

For some buyers, a dream house doesn't exist until it's built. New construction offers a clean slate, with no mysterious stains hiding under the carpet or dated bathroom fixtures that will cost a ...

Federal Housing Administration (FHA) loans are a popular choice for first-time homebuyers and other borrowers who, for a variety of reasons, may have a hard time qualifying for a conventional home ...

Because construction loans generally are intended to cover the building process, they’re typically issued for a period of 12 to 18 months. That said, some loans automatically convert into a permanent ...

Additional lender requirements can apply, such as a qualifying credit score or debt-to-income (DTI) ratio. But keep in mind, not all VA lenders offer construction loans. You may spend extra time ...

FHA loan requirements: FHA loans explained Federal Housing Administration (FHA) loans are a popular choice for first-time homebuyers and other borrowers who, for a variety of reasons, may have a hard ...