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Looking into building on my existing vacant lot which means om looking for construction loan or 1 time closing option.
asked Dec 5, 2018 in Buying a Home by Frank

1 Answer

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Hello, Frank, and thank you for writing. These programs are harder to find than standard programs, but they do exist. It's a very specialized product, but I was able to find lenders by searching for "construction loan bank statement for self-employed" and they do list contact information.

If you have limited down payment funds, consider FHA's 203(k) program. You do have to document your income, but the program does allow a debt-to-income ratio as high as 50 percent.

Thank you for writing and good luck.
answered Dec 12, 2018 by GinaPogol (46,900 points)

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