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can you get a va loan for land and constr

construction of a new house by justinaparsons57922 from , Wyoming. Apr 7th 2014 Reply


Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

Hello Justin,VA does not currently offer a construction loan, no. However, I offer a construction loan that only requires 3.5% down. And if you own the land you can use that equity as the down payment and effectively have zero down. This is a great program backed by FHA only offered by a few lenders as far as I know. The qualification requirements are the same as regular FHA financing. I'm happy to help with the financing or just give you advice. If you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address for live chat or quote is: http://www.loansfromrob.com/quote/ Email is robertlh66@verizon.net and direct phone is 240-752-7549. Good Luck -- Rob Hanson

Apr 7th 2014
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Charles Dailey (Charles_Dailey)
#60 ranked lender in Illinois - 17 contributions

VA financing can be used as an "end loan" or a "perm loan" to a separate construction loan in a 2 time close (http://iloanhomemortgage.com/borrowers/choosing-your-iloan-mortgage-program/mortgage-loans-for-new-construction/). Sometimes, you'll see situations where a bank will bring a 75-80 percent construction loan for the first part of a project and the builder carries the balance until the VA loan pays them off.

Apr 7th 2014
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

Not at this time.

Apr 7th 2014
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Jason Vondrak (jvondrak)
#220 ranked lender in California - 1,741 contributions

The VA program does not currently offer construction loans.

Apr 7th 2014
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

VA itself does NOT offer that type of construction loan. But you can get a construction loan, buy the land and property, then pay the construction loan off off with a long-term VA loan after everything is built. Contact a local VA lender in your area for more information. In MN and WI, I can help. Visit www.VA-IRRRL-Loan-MN.com

Apr 7th 2014
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