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FHA One-Time Close construction loans are available in 2019 at higher FHA loan limits than in 2018. This is good news for anyone who wants a low-down payment construction loan that features only ONE application and closing date.

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

FHA One-Time Close Construction Loan Rules for 2019

January 11, 2019

FHA One-Time Close Construction Loan Rules for 2019
FHA One-Time Close construction loans are available in 2019 at higher FHA loan limits than in 2018. This is good news for anyone who wants a low-down payment construction loan that features only ONE application and closing date.

Compare that to “traditional” construction loans that require two applications and closing dates; one for the construction phase of the loan and the other for the mortgage itself.
The risk of being denied for one loan or the other is something that gives some borrowers a dose of worry; FHA One-Time Close construction mortgages eliminate this problem altogether.

What do borrowers need to know about FHA One-Time Close loans in the new year?

FHA One-Time Close Construction Loans Take Time

The borrower comfortable with taking extra time on the project to get the specific home they want is well-suited for an FHA One-Time Close loan.

Borrowers who are in a hurry to close the deal and move into their new home may wish to consider an FHA Mortgage loan to buy an existing construction property.

FHA Construction Loans Are Unique

Borrowers will work with contractors, designers, and even home energy efficiency experts where appropriate to get into their dream home. This is not necessarily the case when purchasing existing construction property, but the experience can be rewarding, educational, and result in you getting exactly the kind of property you want.

FHA Loan Limits for One-Time Close Construction Loans Are Higher in 2019

For the second year in a row, FHA loan limits have moved higher in the new year. This means added borrowing power for those who want a home built to suit; don’t discount the idea of having your new home built for you.

Doing so may be more affordable for you to consider than you realize. Talk to a lender about your financial needs and your goals for your new home to see what type of FHA mortgage is right for you.


Construction Loans at OneTimeClose.com FHA, VA, and USDA: One-Time Close Loans


Learn More About FHA One-Time Close Construction Loans

We have done extensive research on FHA One-Time Close mortgages and spoke directly to the licensed lenders for most states. These are qualified mortgage loan officers who work for lenders that know the product well. 

Each company has supplied us the guidelines for their product. If you are interested in being contacted by one licensed lender in your area, please respond to the below questions to save time. All information is treated confidentially.

Your response to [email protected] authorizes FHA.com to share your personal information with a licensed mortgage lender in your area to contact you.

Please note that the FHA One-Time Close Construction Program only allows for single family dwellings (1 unit) – and NOT for multifamily units (no duplexes, triplexes or fourplexes).

1. Send your first and last name, e-mail address, and contact telephone number.

2. Tell us the city and state of the proposed property.

3. Tell us your credit score and/or the Co-borrower’s credit score, if known. 620 is the minimum qualifying credit score for this product.

4. Are you or your spouse (Co-borrower) eligible veterans?

5. If either of you are eligible veteran’s, the down payment is $0 up to the maximum VA lending limit for your county. If not, the FHA down payment is 3.5% up to the maximum FHA lending limit for your county.

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