fha onetime construction close loans: VA One-Time Close Construction Loan Options for Veterans Expanded
- 04/19/18 01:05 AM
Some house hunters get fed up with looking for just the right home, while others start out their home loan journey knowing in advance they want a house built for them. What options to these borrowers have?
There is an FHA home loan known as the FHA One-Time Close construction loan that lets borrowers apply for a single loan that covers both construction costs and the mortgage itself.
The FHA version of this type of construction loan requires the borrower and lender to work together to establish a plan for the project including estimated completion times, interest rates, budgets, and more.
Some borrowers aren’t … (4 comments)
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Some house hunters get fed up with looking for just the right home, while others start out their home loan journey knowing in advance they want a house built for them. What options to these borrowers have?
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