Whenever current house stock is low, building your own home is frequently a tremendously appealing concept. You are free to select the area, the builder, a floor plan, the paint colors… everything! The issue is that many loan providers want 10-25% advance payment when considering terms on a construction loan.
The down payment can be as low as 3.5% with an FHA construction to permanent loan.
This low advance payment choice is news that is extremely encouraging numerous borrowers seeking to build a house.