do you know of a lender that handles va construction loans

Carol,Yes, we handle construction loans. You can reach me at 757-390-7303 or online at www.chesapeakemtg.com. Look forward to talking with you.Michael ZimmermanNmls 924701Loan Officer with Southern Trust Mortgage

Lots of lenders do allow VA construction loans, however, many may require additional requirements like up to 20% down because of the associated risks involved. That may seem contradictory to VA guidelines but keep in mind the lender is ultimately at risk and can impose additional guidelines if needed. I would recommend starting with a local VA lender. Best of luck

Yes, I do know lenders that will do VA construction loans. I can help you get started. Just call me at 804-556-0685, or email me at: jcherry@loansimple.com.

Contact one of the fine members of this forum, who offer such loans.

Most VA lenders do not offer a "construction loan". A construction loan closes before building begins. After the loan closes, there is an initial disbursement money used to purchase the land where the home will be built, and the remainder of the proceeds from the loan into an escrow account. The builder is paid from this account. If on the other hand, you sign a purchase agreement, give a little earnest money, and the builder builds you a home that you close on when completed, that is not a construction loan and is OK with every VA lender. www.VA-IRRRL-Loan-MN.com

Carol......most lenders are moving away from true "construction" loans.....those are loans where funds are disbursed in increments to fund construction phases. In these situations, it usually means the builder does not have an operating line of credit to build the home and fund the costs. We actually are enjoying tremendous success closing loans on new construction by allowing the builder to fund the construction phase, then coming in with a VA loan to purchase the home when completed. Our track record of never having a loan denied once it is pre-approved has resulted in a solid reputation with our builder and real estate partners. If I can help you in any way, please contact me at jsalamon@weststarmortgage.com Best of luck Carol!