obtaining a VA construction loan?
i want to build a property (for a primary residence) and i am va eligible but i do not know if construction mortgages are available through va. I already own the land, about 3 acres. my credit is 707. by reed.frances84289... from Chambersburg, Pennsylvania. May 27th 2014
John A Soricelli Jr (John A Soricelli Jr)
#167 ranked lender in California - 151 contributions
Thank you for your service. A VA mortgage loan is truly a wonderful option for those who qualify. Depending on your specific scenario you may qualify for a ZERO downpayment VA purchase mortgage, with NO mortgage insurance and NO funding fee. Often VA mortgage rates are even better than conforming rates. While a construction loan is not available, a VA purchase loan or VA refinance is something which could provide you with significant savings. We have provided over $750,000,000 in VA loans and offer a 95% cash out program. Please call me at 949-478-3863 -or- email me at JAS@ThinkJohnAJr.com -or- visit our website at www.ThinkJandJ.com.
Brad Miller (bmiller)
#117 ranked lender in New Jersey - 16 contributions
VA is a great option for you. Please call me 267 296 9185 or email bmiller@ahmcloans.com. Being a VET myself, i have a vast knowledge of VA products. Please dont hesitate to call me or email me. thank you. Brad Miller
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions
VA does NOT offer a "construction loan". You will need to obtain a separate construction loan. You can then use a VA loan to pay off your construction loan when everything is finished, and get your long-term VA loan financing. www.VA-IRRRL-Loan-MN.com
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