{"id":669,"date":"2014-09-21T12:43:57","date_gmt":"2014-09-21T12:43:57","guid":{"rendered":"http:\/\/teammovemortgage.com\/2014\/09\/21\/homebuilder-in-nc-sc-or-va-that-needs-better-constr-perm-financing-up-to-100-for-your-clients\/"},"modified":"2020-07-13T22:37:42","modified_gmt":"2020-07-13T22:37:42","slug":"fha-construction-loans","status":"publish","type":"post","link":"https:\/\/teammovemortgage.com\/blog\/fha-construction-loans\/","title":{"rendered":"FHA Construction Loans Offer Affordability and Flexibility"},"content":{"rendered":"<p>Most banks and lenders will lend up to 80% or less on a construction to permanent scenario.\u00a0 But for borrowers in NC and SC, we have great options for building a new dream home.\u00a0 We combine the flexibility of an <a href=\"https:\/\/portal.hud.gov\/hudportal\/HUD\" target=\"_blank\" rel=\"noopener noreferrer\">FHA loan <\/a>with the benefits of construction financing.\u00a0 FHA construction loans allow <a href=\"http:\/\/www.realtor.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">land<\/a> owners to build a custom home, often with no down payment necessary.\u00a0 There are some additional requirements when comparing FHA construction loans with using FHA to buy an existing home.\u00a0 Currently there are rules which require ownership of the <a href=\"https:\/\/www.zillow.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">land<\/a> for 6 months.\u00a0 Prior to ordering the FHA case file number, the land must be owned for 6 months.\u00a0 Check out the reasons to call us for building your new home!<\/p>\n<h2>\u00a0FHA Construction to Perm Benefits<img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-732 size-medium\" src=\"https:\/\/teammovemortgage.com\/blog\/wp-content\/uploads\/2015\/01\/1422451305-225x300.jpg\" alt=\"FHA construction loans\" width=\"225\" height=\"300\" \/><\/h2>\n<ul>\n<li>6 months to build stick built homes, 4 months for modular<\/li>\n<li>660 minimum credit score (many lenders require 700)<\/li>\n<li>Primary residence only<\/li>\n<li>Potential\u00a0for no construction interest only payments<\/li>\n<li>Stick built and off frame modular homes<\/li>\n<li>Maximum loan amounts set by FHA county limits<\/li>\n<li>Only available for North Carolina and South Carolina<\/li>\n<li>Requires builder approval.\u00a0 We have approved builders to choose from in many areas too<\/li>\n<\/ul>\n<p>[av_button_big label=&#8217;Are You a Veteran and Want to Build a Home?&#8217; description_pos=&#8217;below&#8217; link=&#8217;manually,http:\/\/teammovemortgage.com\/blog\/2015\/06\/12\/va-construction-loans\/&#8217; link_target=&#8217;_blank&#8217; icon_select=&#8217;no&#8217; icon=&#8217;ue800&#8242; font=&#8217;entypo-fontello&#8217; custom_font=&#8217;#ffffff&#8217; color=&#8217;theme-color&#8217; custom_bg=&#8217;#444444&#8242; color_hover=&#8217;theme-color-subtle&#8217; custom_bg_hover=&#8217;#444444&#8242;]<br \/>\nCheck out our VA Construction Loans offering 100% financing<br \/>\n[\/av_button_big]<\/p>\n<h2>\u00a0Builder Benefits Using FHA Construction Loans<\/h2>\n<ul>\n<li><span style=\"font-size: 14px;\">Offer up to 96.5% financing to build a client&#8217;s primary residence <\/span><\/li>\n<li><span style=\"font-size: 14px;\">Fast closings when the borrower provides documentation in a timely manner<\/span><\/li>\n<li>Use less of your own funds<\/li>\n<li><span style=\"font-size: 14px;\">A flexible draw schedule\u00a0<\/span><\/li>\n<li><span style=\"font-size: 14px;\">Land equity may be used as down payment<\/span><\/li>\n<\/ul>\n<p>Therefore all of these benefits help builders find more clients, which means more sales and more money.\u00a0 So rather than a builder using\u00a0own money or credit line to build a custom home, a buyer may use our construction to perm loan to take\u00a0a lot of\u00a0risk away from the builder.<\/p>\n<p>[av_button_big label=&#8217;Contact Us to Become an Approved Builder&#8217; description_pos=&#8217;below&#8217; link=&#8217;manually,http:\/\/teammovemortgage.com\/contact-us&#8217; link_target=&#8217;_blank&#8217; icon_select=&#8217;no&#8217; icon=&#8217;ue800&#8242; font=&#8217;entypo-fontello&#8217; custom_font=&#8217;#ffffff&#8217; color=&#8217;theme-color&#8217; custom_bg=&#8217;#444444&#8242; color_hover=&#8217;theme-color-subtle&#8217; custom_bg_hover=&#8217;#444444&#8242;]<br \/>\nCall 844-340-6683 or send us your contact information<br \/>\n[\/av_button_big]<\/p>\n<h4><em><strong>Team Move\u00a0lends in\u00a0areas such as Wilmington, Leland, Hampstead, Jacksonville, Camp Lejeune, Whiteville, Shallotte, Southport, Elizabethtown, Lumberton, Fort Bragg, Pope Air Force Base, Fayetteville, Rockingham, Raleigh, Garner, Smithfield, Clayton, Goldsboro, Charlotte, Greensboro, Winston-Salem, Durham, Chapel Hill, Burgaw, Castle Hayne, Holden Beach, Supply, Ocean Isle Beach, Sunset Beach, Hubert, Tabor City, Carolina Beach, Kure Beach, Laurinburg, Topsail Beach, North Topsail Beach, Surf City, Sneads Ferry, Richlands, Wrightsville Beach, New Bern, Oak Island, Saint James, Wallace, as well as the rest of NC.\u00a0 North Myrtle Beach, Myrtle Beach, Conway, Loris, Little River, Longs, as well as the rest of South Carolina and Virginia.<\/strong><\/em><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Most banks and lenders will lend up to 80% or less on a construction to permanent scenario.\u00a0 But for borrowers in NC and SC, we have great options for building a new dream home.\u00a0 We combine the flexibility of an FHA loan with the benefits of construction financing.\u00a0 FHA construction loans allow land owners to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":732,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[142,24,33,17],"tags":[140,141,143,144,9,145,10,11,13,146,147],"class_list":["post-669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-constuction-to-perm","category-fha","category-frequently-asked-questions","category-products","tag-builders","tag-construction-perm","tag-fha-construction-loan","tag-fha-construction-to-permanent-loan","tag-first-time-buyers","tag-homebuilders","tag-homebuyers","tag-low-down-payment","tag-mortgage-faqs","tag-new-construction","tag-new-home-construction"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FHA Construction Loans and Perm Available to Build a Dream Home<\/title>\n<meta name=\"description\" content=\"FHA Construction Loans combine affordability, flexibility, and the ability to build a dream home. 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