Zillow Advice: Mortgage Types - Is a 5% down construction loan available in SC (Charleston)? http://www.zillow.com/advice-thread/Is-a-5-down-construction-loan-available-in-SC-Charleston/365567/ Zillow Advice | Zillow Real Estate I realize this is old, however, ... http://www.zillow.com/advice-thread/Is-a-5-down-construction-loan-available-in-SC-Charleston/365567/ I realize this is old, however, it might help people with the same question.&nbsp; <br/><br/>Construction loans are not being given that easily.&nbsp; The cost of building materials has risen to such an extent that building is out of reach for many new home-buyers.&nbsp; While the cost of labor is still the same, if not slightly lower due to the recession, the overall cost to build is higher.&nbsp; Because of this and a higher risk of possible fraud in a construction setting, lenders do not necessarily feel the need.&nbsp; <br/><br/>This is the reason why so many new homes are being bought in "Planned Communities" through national builders.&nbsp; I hope this has helped. Tue, 26 Apr 2011 18:58:00 GMT http://www.zillow.com/advice-thread/Is-a-5-down-construction-loan-available-in-SC-Charleston/365567/ 2011-04-26T18:58:00Z I'll have to lean on Clay ... http://www.zillow.com/advice-thread/Is-a-5-down-construction-loan-available-in-SC-Charleston/365567/ <p>I'll have to lean on Clay on this one.<br/>I don't know of any lender that is ok with just 5% ... I am finding more of them want you to have more down.&nbsp;&nbsp;<br/>What about your small local builder getting a small business loan? (SBA)&nbsp; There are some great incentives now for lending to small businesses.&nbsp; Just a thought.<br/>Sincerely,<br/>Celia</p> Fri, 10 Sep 2010 16:44:00 GMT http://www.zillow.com/advice-thread/Is-a-5-down-construction-loan-available-in-SC-Charleston/365567/ 2010-09-10T16:44:00Z Contact American Home Bankhttp://www.bankahb.com/FindaLoanOfficer.aspx ... http://www.zillow.com/advice-thread/Is-a-5-down-construction-loan-available-in-SC-Charleston/365567/ Contact American Home Bank<br/><br/><a href="http://www.bankahb.com/FindaLoanOfficer.aspx" rel="nofollow">http://www.bankahb.com/FindaLoanOfficer.aspx</a> <br/> Fri, 10 Sep 2010 11:03:00 GMT http://www.zillow.com/advice-thread/Is-a-5-down-construction-loan-available-in-SC-Charleston/365567/ 2010-09-10T11:03:00Z