construction loans

Can a person with 577 middle score get a construction loan? can a person with 625 middle score get a construction loan? this is for the state of missouri.

Thanks in advance for your answers.

I do alot of construction loans. I think with those credit scores it would be very hard. It all depends on how much money you have to put down?

What kind of capital are you working with?

No money to put down.

If anyone does have a construction lender who will do a construction loan with a fico under 620, please post here.


The only way they will do it with no money down is if the lot is owned free and clear or if the lienholder on the lot will subordinate to the construction loan lender. The customer will also have to pay all of their own closing costs. Rates are not bad though.


I too do a ton of construction loans. Can you suggest anyone other than the big names (first horizon, natl. city, M&T, etc…) and local banks? I always like to find new and good lenders.

I think they are all very simiilar when you are talking 640+ fico. I have used Indymac too.