FHA Construction Loan
FHA ONE-TIME CLOSE CONSTRUCTION LOAN
An all-in-one financing solution to build your dream home
Low inventory and rising prices can make buying a home challenging. There’s no reason to wait for your perfect home to become available on the market. With an FHA construction loan from Greenway you can build the home you want—and finance it with just one application and one closing. It's that simple!
Have Questions about Greenway's FHA Construction Loan? Fill out the form below.
FHA Is Not The Only Construction Program We Have!
Be sure to check out our Standard, USDA and VA Programs Too:
How Do Construction Loans Work?
Project Approval (appraisal, plans & specs, costs from builder)
Borrower Credit Approval
Initial Draw at Close (up to 50K) to get project started and/or reimburse for any materials already purchased
Post close welcome call from construction management company
Inspections done as work is put in place, then checks for draws issued to builder and borrower
Once work is done, loan is modified into a standard 30 year fixed loan at present market rates (vs. the interest only loan in place during construction). Borrower is able to pay down balance on converted loan in the event other property they owned has been sold in the meantime. *NO CLOSING COSTS*
Major renovations (projects beyond scope of renovation programs)
Click here to learn everything you need to know about Construction Loans and download our Construction Loan Guide here.
*Finance up to 90% of project (purchase price + cost to construct). Eligibility requirements, exclusions and other terms and conditions apply.