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Financing the construction of your new home can seem confusing at first. So many programs, so many products, so many confusing terms and numbers.

Below you will find a brief overview of three of the programs that Huntington Bank has to offer for financing the construction of a new home.


  • 80% Loan to Value Construction:  This option allows you to use the equity in your land (if already owned) along with any funds available for down payment (if needed) so that you can build your home with no private mortgage insurance obligation in your payment.  This is generally required if you have less than a 20% down payment.  We have many different programs available for one closing construction (close and build your home with a modification into your permanent financing at the completion of your home). During the construction process, you would pay interest only monthly based on the amount of your construction loan that has been used during the construction phase.

  • 90% Loan to Value Construction with no Private Mortgage Insurance: This option also allows you to use the equity in your land (if already owned) along with any funds available for down payment (if needed) so that you can build your home at a slightly higher loan to value (10% down) and still not be required to pay Private Mortgage Insurance (generally required if financing with less than a 20% down payment). We have many different programs available for one closing construction (close and build your home with a modification into your permanent financing at the completion of your home). During the construction process, you would pay interest only monthly based on the amount of your construction loan that has been used during the construction phase.
  • FHA Construction Loan: This option allows you to build your home with a minimum of 3.5% down, which also can be land equity if you already own your land. FHA construction also allows you to build if your credit score is below customary guidelines for our other two programs. With FHA construction, you can build with a credit score of 640 in most cases as long as your recent credit history has been sound. With FHA construction, you would have a Mortgage Insurance Premium due to financing at the 96.5%. This program still allows for a one closing construction (close and build your home with a modification into your permanent financing at the completion of your home). During the construction process, you would pay interest only monthly based on the amount of your construction loan that has been used during the construction phase. FHA Construction does have loan limits in each county; however, with Monongalia County, loan limit at $271,050.00. If the costs are above the loan limit, you would need to pay down to the county loan limit for the county that you are building in.

With any of our programs, you can purchase your land with the construction loan in a one closing transaction. You can also use a gift of land toward your down payment in any of our programs.

For further information regarding any of these programs, please contact me at [email protected] or call 304-291-7734.

Having worked with Vision Homes for 20+ years, I find them to be respectable, responsible builders that have their clients best interests at heart. I look forward to working with you and Vision Homes for the construction of your new home.

Thanks for reading,

Melanie Thompson


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