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 ...

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+.

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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 ...