Are you buying the land from the builder? If so, the builder may float the construction loan and you will only need the End loan. If the builder is not supplying the land, you will need a FHA construction-to-perm loan. You will typically need a 3.5% down payment and a 640 credit score.
Yes, you can obtain a FHA construction-to-permament loan once your middle credit scores are at 640 or higher
It can be done, however there are only a handful of banks in the country that will offer a FHA construction-to-permanent loan. Don't give up if the 1st bank you call does not offer this type of loan.
You can also obtain financing on a FHA construction-to-perm loan with a 3.5% down payment. The loan is closed prior to the start of construction and there is no need for the builder to finance the project. [content removed due to spam. Please refer to our Good Neighbor Policy for more details.]