FHA Construction Loans
FHA Construction Loan
For people that are struggling to qualify for a conventional construction loan the FHA offers financing that becomes a long-term, permanent mortgage with easier credit requirements.
The FHA Construction-to-Permanent loan program grants a short-term construction loan that transitions into a long-term, permanent loan after you finish building your home.
FHA Construction Loan Benefits:
● Reduced down payment as low as 3.5%
● Pay interest only during the construction phase of the loan
● One time close!
● Roll lot purchase & construction costs into one loan
● No payments out of pocket until after the home is completed
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CHM Lending is a local mortgage broker founded in 1992 and located in Medina, Ohio. Our company offers a full range of mortgage loan products including Conventional, FHA, VA, USDA, Construction, and Renovation loans. Our team has a combined over 45 years of experience in the mortgage industry and was voted Best of The Best in Medina County in 2017 & 2018. We use a common sense approach with all of our clients and we work with many different lenders to be able to offer the most competitive rates and costs coupled with amazing customer service.