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- Roll home and land purchase into one loan with 3.5% down.
- No money down with land equity to cover 3.5% FHA required investment.
- Gifts allowable for 100% of down payment and/or closing costs. These gifts can be cash or equity in a lot.
- Up to 6% seller/builder contribution for borrower’s closing costs and prepaids.
- Credit scores as low as 620.
- FHA offers flexible underwriting requirements over conventional.
- No reserve requirement.
- Buyer makes no payments until construction is complete.
- Close one-time upfront before construction begins, with no re-qualifying once the home is complete.
- Up to 5 construction draws available after closing.
- Up to 90% construction funding.