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Are there any lenders offering VA construction loans?

My husband and I are looking to build in New Hampshire, and were hoping to do it with a VA loan and a 10% down payment, instead of the 20% associated with typical construction-to-permanent loans. No loan officers that I've spoken with think that anyone is funding these, although I know the VA will technically back them. We are all around good loan candidates (so I'm told), we just don't have the cash for that large of a down payment. Is anyone aware of a lender who could work with us? by jillgaumond967 from Atlanta, Georgia. Apr 5th 2017 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,446 contributions

Technically, this loan is available... But I know of no lender offering it. Part of the disconnect is that the VA 'offers' it, but the VA doesn't do your loan - lenders do. Lenders simply deem constructions loans way too risky, hence why you can't find it available in the market.

Apr 5th 2017
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

As Joe stated.. VA offers it, but VA does not lend money.. they only insure loans against default.. A VA construction loan is literally the "needle in the haystack" type loan.. Not impossible, but near impossible to find.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Apr 5th 2017
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Larry Gray (lgray_312_247)
#4 ranked lender in California - 1,127 contributions

I concur with the gentlemen who have thus commented, but did locate someone in Texas once who provides them. Not sure they still do and I found them by internet searching. two to three years ago for client. I suspect they come and go as they begin to not want the level of risk involved. I could find no one in CA, where I reside, providing them. I would sure love to have it available for my borrowers!

Apr 7th 2017
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