Affordable Alternatives to Construction Loans2018-01-25T19:51:24+00:00

Construction Loan Alternatives

The most affordable way to build your new home.

You dream of building your own home, but a construction loan is just not affordable, right?  WRONG!

You may have heard that a construction loan can require up to 30% down, plus high interest rates. Traditionally, that is the case. However, Hurst Lending now offers one-time close loans through the VA loan program and FHA loan program that allow buyers to include land, construction and their final mortgage in a single loan. This means you can now build a house all within the generous terms of a VA or FHA loan.

VA Construction Loans
VA Construction Loans
    • Use your VA benefits
    • Finance up to 100% of land and home value
    • 0% down payment
    • One-time close
    • Low closing costs
    • No risk of becoming unqualified during construction
    • No payments during the construction period

Learn more at va-construction-loan.com

10% Down, 1 Time Close Construction Loan
For borrowers with credit scores of at least 720, the 10% Down, One-Time Close Construction program provides:

  • One-time close loans up to $453,100
  • 6 / 9 / 12-month construction terms
  • Interest-only payments during construction
  • Ability to finance soft costs, like architectural and engineering designs and permit fees
  • Rates as low as 4% for 30-year-fixed loans
FHA Construction Loans
FHA Construction Loans
    • Easy to qualify with credit scores of 620 and above
    • Finance up to 96.5% of land and construction value
    • Only 3.5% down
    • One-time close
    • Low closing costs
    • No risk of becoming unqualified during construction
    • May not require payments during construction

Learn more at fha-construction-loan.com

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