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Finding a Lender Using FHA's Construction-to-Permanent Loan Product

Hi there,

My husband and I are hoping to buy land and build a home using the FHA's Construction-to-Permanent Loan product. The problem? I can't find anyone in my area that has even heard of the program! I called HUD and they directed me to their online database that 1) is outdated and 2) does not filter using this loan as an option. I've called over 15 mortgage companies/banks on this list and none have even heard of the product. Any direction as to who may have this would be very helpful! I am in Hanson, Massachusetts.

Thanks so much!!!!
  • August 31 2013 - Town of Hanson
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Answers (9)

Good Morning, Unfortunately, FHA no longer offers the construction-to-permanent product. Contact a few small local banks and see what your options are. Feel free to contact me and I can suggest a couple.
  • August 31 2013
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Would you consider a conventional construction to perm loan?  Please contact me via my profile to discuss.
  • September 25 2013
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We can finance an FHA construction to perm. loan however we can only finance on a new built manufactured or modular home.  If that is okay then you can contact me through my profile.
  • September 25 2013
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Profile picture for mprewitt
Where do people come up with these answers?  FHA does still offer a construction loan for stick built houses. 3.5% down just like a regular FHA loan. 620 minimum credit. It is not a standard conventional loan in that you can do some of the work yourself and farm out the rest to separate contractors. One contractor who is FHA certified gets the job and once its  done its FHA inspected and then you start payments on the loan. You can pick plans and specify options to your builder but thats about it. The loan can also pay for land if you do not have it already. The 3.5% down can also be used to pay for architects drawings. I'm in the middle of a build now.
  • September 15 2014
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@mprewitt
Naming your Lender, and location, would have been helpful. I've been originating loans, since about 1983, and I don't know anybody that does it. So the oddity is that you do, and that Capt America can do them, but only on Manufactured homes.
  • September 15 2014
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We offer the FHA CP loan, contact me through my profile if you are interested.
  • December 03 2014
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Profile picture for bjacks3333
http://portal.hud.gov/hudportal/documents/huddoc?id=DOC_36065.txt Banks can do it, whether many banks do is another story.
  • January 14
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We now offer Construction to Perm. loans on all properties with FHA with 3.5% down and we can also finance on a VA Construction to Perm. loan with 0% down.  We do not charge any points or lender fees.  Contact me through my profile if I can be of assistance.
  • January 14
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We have this on a niche portfolio program, starting with a 640 score. I would need to go over the scenario. Just c9nract me or fill our a short app on my site www.reloandr.com
  • January 14
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