Licensed in the State of Florida

Licensed in the State of New Jersey


FHA Construction to Permanent Loan New Jersey

Apply for an FHA Construction to Permanent Loan New Jersey.


Do you want one loan to buy the land, build a new home with a construction loan and then have the loan convert to a permanent loan? 


A construction to permanent mortgage combines a construction loan (short-term loan for financing the cost of construction) and the traditional long-term permanent residential mortgage with a single mortgage closing prior to the start of construction.

The borrower must be purchasing the land at the closing of the construction loan, or have owned the land for six months or less at the date of application.  At closing, after funds are disbursed to cover the purchase of the land, the balance of the mortgage proceeds must be placed in an escrow account to be disbursed as construction progresses.

FHA has taken the following steps:

  • Update the combination of credit scores and down payment
  • New borrowers will now be required to have a minimum credit score of 580 to qualify for FHA construction to permanent loan
  • Buy the land, new construction and then the loan converts to a 30 year fixed rate

What documents will I need?

• Personal tax returns for the past 2 years with W2's
• Current pay stubs for the past month
• Bank statements for last 2 months (all pages)
• Sales contract
• Clear copy of Driver’s License (front and back)
• Clear copy of SS card (front and back)



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What Credit Score is Needed

to Cash Out?


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FHA loans

FHA requires a minimum 500 credit score to refinance

500 credit score

VA loans

VA requires a minimum 500 credit score to refinance

500 credit score

Fannie Mae

Fannie Mae requires a minimum 620 credit score to refinance

620 credit score

Freddie Mac

Freddie Mac requires a minimum 620 credit score to refinance

620 credit score


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888-958-4228

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