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How do we get a VA Construction Loan in Georgia? We found a lot, have good credit and are ready to go.

by oceanside435668 from , California. Aug 20th 2015 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

VA construction loans are very difficult to find.. Although VA allows for this, most lenders wont do them because of the inherent risk associated with approving someone for a loan today, and funds being distributed, but the home isn't complete and no payments received for 6 months to 1 year.. You would have far better luck going to your local bank and just applying for a construction loan, and then once the home is complete apply for a VA loan. You will need a down payment, probably 20% or more, but it's a lot easier than trying to find that one lender in the country who offers VA construction loans. 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 NMLS# 226347

Aug 20th 2015
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

They are available, but hard to find. Contact a Loan Adviser in your area to help you find one.

Aug 20th 2015
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Jason Wood (jasonwood)
#679 ranked lender in California - 13 contributions

Technically there isn't a VA Construction Loan. While the VA will allow one they are only an insurer of the mortgage. Sort of like a state farm or geico. There is one company that is doing a construction-like VA loan but its only for renovations and is capped at $35,000. That company is iMortgage, but no one is offering a full/ground up VA construction loan.Construction loans are offered by US Bank and usually local banks and/or credit unions in your area, but they all will require a decent amount of down payment from you.

Aug 20th 2015
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Good morning! I work for a community bank in Georgia. We offer a construction to permanent loan. It would be a 2 time close, and it would be a VA loan at final. Let me know if I can be of assistance. Clyde Penton NMLS#979755 404.604.7013

Aug 21st 2015
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