Articles, Updates, and Guidelines

November 12, 2021FHA home loan rules in HUD 4000.1 include a section titled “Building on Own Land”.  Are you interested in having a house built for you on your own lot instead of having to choose from existing construction housing?

July 6, 2021There are multiple options for those who want a construction loan to build on their own land. Those who do not own land may purchase property in conjunction with the mortgage, and they can choose between several options to finance the purchase and construction.

June 14, 2021If you want to build a home on your own lot using a construction-to-permanent loan, also known as a One-Time Close mortgage or single-close construction loan, you should know that some home loan rules are different for construction loans than for existing construction mortgages.

May 22, 2021If you want to build your home instead of buying someone else’s house, there is a type of construction loan that can help. The One-Time Close construction loan eliminates the need for a second loan application and approval process compared to some other types of construction loan.

May 12, 2021If you want to build a home on your own lot instead of buying an existing house, the FHA One-Time Close construction mortgage is an option to consider. FHA construction loans feature the same low down payment requirements (3.5% for qualified borrowers) as any other FHA mortgage. 

April 25, 2021The most important thing to know about VA One-Time Close construction loans is that unless you are either an eligible veteran with qualifying military service or a qualifying surviving spouse of a veteran who has died as a result of military service.