48 Meriden Rd, Suite 1, Middlefield, CT 06455

Connecticut Land and Home Construction Loans

Land and Home Construction Loans

Construction Loans are a great option when considering a home purchase.   Doing a construction loan can be an easy process.  Especially, if you have the right company assisting you.  Our new financing option makes it easy with an FHA one-time close construction to permanent loan.

First of all, this program combines the low down-payment & affordability of an FHA program.  Next, it allows borrowers to take control of what they want.  Which in turn fulfills the increasing demand for new housing in today’s market.

Most construction loans take place in two closing phases.   The first closing is at the start of construction.  While the second closing occurs upon completion.  If you are thinking this seems like a waste of time, then you would not be wrong.  Why worry about re-qualifying or incurring additional closing costs? Financing for the construction, lot purchase, and the permanent loan is all included in our program.

Some helpful construction mortgage information:

  • A minimum credit score of 620 is usually required.
  • 3.5% down-payment.
  • There is a one time appraisal.  Even better,  you only pay closing costs once.
  • In addition, borrowers make no payments until the construction is completed!
  • And there is no requalification after construction.
  • This program is designed for manufactured, modular, and stick-built housing.


  • The land can be currently owned (build on own land): recently purchased or free & clear -or even with a mortgage(s).
  • The land can be purchased simultaneously from the builder or even a third party.
  • And the land can be gifted from a family member.
  • In addition, land equity can be used as your down payment.
  • Finally, Seller Concessions are allowable to maximum FHA guidelines. Therefore, if you own the land and have equity, you may be able to come to the table with no money down!

In conclusion, your dream of building a home just got closer to a reality. Call me today for a free consultation.  We make land and home constructions loans easy!


Thank you,



Michael Meyer
Senior Vice President of Northeast Financial

Company NMLS#117273 

Residential Clients: Click Here For Application