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Construction loans are short-term loans that you can use to build a new home. Some construction loans can be converted to mortgages after your home is finished. Construction loans typically have ...

3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans ...

Construction loans are short-term, interest-only loans used to build on undeveloped land. Qualification for FHA construction loans requires a 3.5% to 10% downpayment and a credit score of 500+.

Service members or veterans considering building a dream home have an additional funding opportunity. A Veterans Affairs (VA) construction loan has some of the same benefits as VA mortgages but allows ...

VA construction loans are designed to benefit active-duty U.S. military service members and veterans. Eligible borrowers may be able to build a new home without a down payment, but there are strict ...

David McMillin writes about credit cards, mortgages, banking, taxes and travel. Based in Chicago, he writes with one objective in mind: Help readers figure out how to save more and stress less. He is ...

A construction loan provides short-term financing for building a new home or renovating an existing home you’re purchasing. Loan terms are usually 12 to 18 months, during which time you make ...