Will the VA lend on new construction of a second home?

Primary residence only. You could convert your existing to a second home and purchase the new one as primary if you would move into the new home. That's the only way I know.You would also need to income qualify with both payments.

No they will not,

Not on second home.

People, people, people. VA and FHA are ONLY for the borrower's PRIMARY residence. The do not make new loans for a rental, vacation, second home, Kiddy Condo, or any other type of occupancy. You must move into it as your primary residence. Secondly, VA does not make ANY construction loans. If you want to build a home to live in and have a VA loan, you must first arrange for the construction financing and once the home is complete and you are ready to move in, VA will provide the permanent financing to pay off the Construction lender. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

No but thank you - Andrew