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 FHA Loan Limits are specific to your county.
Check your county loan  limits here.

 Conforming Loan amounts up to $726,200 | FHA Loan Limits are specific to each Florida County
Check to See Florida FHA loan limits here

FHA Construction Mortgage Rates

FHA Construction Mortgages

Embarking on the journey of building a new home brings a mix of anticipation and apprehension. However, with the assistance of a suitable lender, you can turn your dream into a tangible reality without the complexities of a burdensome financing process or substantial upfront expenses.

Our FHA single close construction loan is designed to make building a single-family home an attainable goal. It provides you with accessible financing options and simplified procedures. Whether you plan to purchase land or construct on property you already own, this loan enables you to finance both the construction phase and the long-term mortgage with a single loan.

One of the notable advantages of an FHA single close construction loan is the low down payment options available. This feature offers you greater affordability and flexibility, making your vision of a new home more within reach. With simplified financing, you can focus on the excitement of building your dream home while navigating the process with ease.


FHA Single Close Construction Loan

Our FHA single close construction loan has gained popularity among those looking to build single-family homes due to its easier qualification process and simplified management of home financing and construction.

These loans are insured by the Federal Housing Administration (FHA) with the aim of promoting economic development and improving accessibility to financing for homebuyers interested in building their own homes.

Since the FHA backs these loans, interest rates remain competitively low, and borrowers have the advantage of making a minimum down payment of just 3.5% of the total cost.

With the FHA single close construction loan, you have the ability to finance the purchase of your lot, the construction of your new home, and the long-term mortgage that will support your home once it’s completed.

This integrated approach streamlines the entire process, eliminating the need for multiple loans at each stage. By qualifying once, you undergo a single appraisal, work with a single loan originator, and go through a single closing process. This not only saves time but also protects you from unexpected circumstances in the future and prevents the need to pay double or triple the closing costs.

Given the complexity of home construction and its many moving parts, single close construction loans are designed to simplify the process and make it more manageable for homebuyers.


Features and Benefits:

• 3.5% Down Payment for Primary Residence
• 660 Minimum credit score
Loan amounts for FHA are specific to each Florida County – Check Florida FHA loan limits here
• Rate can be locked at any time during the loan application/process
•  Simple and flexible draw process. Funds are released based on the percentage of work completed by the contractor in the construction period
• Consolidate construction and purchase for only one set of closing costs and fees, loan type and term available in 30-year term only

Eligible Properties Include:
• Stick Built Homes
• Modular Homes
• Multi-Wide Manufactured Homes
• Condominiums

New Construction Program Requirements:
• Maximum Construction Period is 9 months
•  If property is in Wetlands, A Wetlands Certification issued by a local authority and recorded is required
• Max Acreage Is 10 acres
• All programs are Fixed Rate Mortgages with 30-Year term 
• Minimum Loan Amount of $200,000
• Contingency Reserve – Up to 5% for FHA


Not Permitted:

• No Judgments with an outstanding balance; must be satisfied/paid
• No Self-Builds, Self-Help, Sweat Equity are permitted
• Projected rental income on current residence CANNOT be used for qualifying purposes on new construction home
• No Single-Wide Manufactured Homes are permitted

Let’s build your Florida dream home together. Our Mortgage Experts specialize in home construction loans and work with you and your builder from application through completion of your new home. We handle all draws and inspections during construction.

FHA Construction Loans