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For primary residences or second homes; One-time close loan; 12 month maximum construction phase; 15-year or 30-year terms; Maximum loan amount is.
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In this article, we describe the specific requirements for an fha construction loan and a few alternatives you may want to consider instead. What is an FHA construction loan? FHA construction loans come in two flavors: A construction to permanent loan is designed to help homebuyers build and own a home.
Fannie Mae, Freddie Mac offer home loans for 3% down – Continue Reading Below For just a 3 percent down payment, certain consumers can now get a loan from both government-sponsored lenders for a home purchase. by the Federal Housing Administration (FHA.
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