Are there any lenders that do VA construction loans
i have a builder and am working with an architect on plans. However the builder does not want to cover the cost of construction until i can get a mortgage. by 1smithma489 from , California. Jun 30th 2015
Derick Condron (rightstartoregon)
#30 ranked lender in Oregon - 598 contributions
You say the builder does not want to cover cost of construction until you have a mortgage. Could you just show approval for the VA loan and he will then cover it. There are construction to permanent financing options available.
William J Acres (William_Acres)
#75 ranked lender in Arizona - 8,728 contributions
Yes.. that is true.. builders will not do this, and finding a lender to do a VA construction loan is near impossible.. not impossible, but near impossible.. You're better off applying for a construction loan with your local bank and then when the home is finished, then do your VA loan, you will have to have some of your own money, but you can get it back once the home is complete and you finalize your VA loan. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
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