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Does the FHA give loans on homes that are being constructed?

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My husband and I would like our home built and put on land will the FHA give a loan to have it done? And what is the max amount that can be loaned out if so? Thanks.

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   Posted in FHA Loans    

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4 Responses to 'Does the FHA give loans on homes that are being constructed?'

  1. financing_loans - November 2nd, 2007 at 3:42 am

    You can get an FHA approval. Then you take that approval to a builder that is going to build your home or you go to a credit union or another bank that will give you construction money.

    FHA doesnt lend construction money to build a home from scratch. They have some programs that allow you to fix up a house that you a buying, but I wont get into that.

    The maximum amount that FHA will lend will depend on the State and County you live in. Go to the site below and put in your state and county and it will tell you.

    Good Luck.

  2. Cameron R - November 4th, 2007 at 7:39 pm

    Yes it is possible. The amount of the loan you will be able to get would depend on how your credit is and the income your bringing in. And there are more factors involved with it. I work for Apex Mortgage and I could help you more in depth with it. You can email me at and I can give you more information on it and I can also give you my number where I can help you more. But I can also tell you that the way the market is now, it is literally getting harder by the day to get loans. So the sooner the better and that’s not a sales pitch or anything.
    Good luck!!

  3. Mike - November 5th, 2007 at 1:53 pm

    Its possible but not easy, and you will need some cash.

    FHA will not fund a construction loan…. You will need your own construction loan… then you can turn the construction loan into a FHA loan once construction is complete.

    The other option is to get the builder to front the money and build it on spec… but in this market, I dont think that is very likely.

  4. Yanswersmonitorsarenazis - November 7th, 2007 at 12:58 am

    You’ll need some interim construction financing, FHA doesn’t cover that part. You can arrange for an FHA loan as your permanent financing, though.

    Click the link and enter the county in which you intend to build, to determine what the max loan limit is. It’s by county, no other way to know for sure. Then contact some banks and see about getting it all put together.


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