Home Buying in Medina>Question Details

John, Home Buyer in Medina, OH

Can I get an FHA loan on new construction?

Asked by John, Medina, OH Mon Dec 14, 2009

Help the community by answering this question:


You need to get with a Realtor John,and FHA IS 3.5% good luck w/that
Web Reference: http://tjrobertsrealtor.com
0 votes Thank Flag Link Tue Dec 15, 2009
The quick answer is yes.

I always advise speaking with a local FHA loan officer either through a bank or mortgage company to find a good fit....someone that is there to answer your phone calls and all of the questions you might have during the process.

I would be happy to share a number of area contacts that you might find helpful.
0 votes Thank Flag Link Mon Dec 14, 2009

Im sorry but did you mean on a pre-existing home?

I was referring to building your own. Construction financing.

0 votes Thank Flag Link Mon Dec 14, 2009
Yes, I've had a client close on a new construction loan earlier this year... and in Medina. 3.5% is your minimum down payment.

Please let me know if you have any other specific questions.

Art Hotes ~ RE/MAX
0 votes Thank Flag Link Mon Dec 14, 2009

Yes there is financing out there. I would have to verify it could be done where you are but I know Prosperity Mortgage does it where I am. 96.5% LTV with 3.5% down FHA.

Have any more info on what you want to do?

If you want, drop me an email if you dont want to post it here sean.dawes@LNF.com
0 votes Thank Flag Link Mon Dec 14, 2009
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