: Expect to put down 20% to 25% . Government-backed options like FHA construction loans may allow as little as 3.5% down.
: This covers only the build phase. Once the home is complete, you must pay off the loan in full, usually by taking out a separate mortgage. This involves two separate closings and two sets of fees. construction financing
: This loan automatically converts into a long-term mortgage (15 or 30 years) once the house is finished. It is popular because you only pay closing costs once. : Expect to put down 20% to 25%