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+.

It's finally happening! After months — maybe even years — of dreaming, planning, and saving for a down payment, it's time to start building your dream home. Before getting started, you'll need to ...

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 ...

We independently evaluate all of our recommendations. If you click on links we provide, we may receive compensation. Lars Peterson joined Investopedia in 2023 as a senior editor of financial product ...