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I am looking for a lender that offers VA construction loans to perm VA Loans

by aymaston02713 from Birmingham, Alabama. Oct 21st 2014 Reply


Bonita Y. Stewart (BStewart)
#20 ranked lender in Alabama - 8 contributions

I'm a mortgage specialist here in Birmingham. I can do that for you. Bonita Stewart

Oct 21st 2014
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

Although VA allows for construction/perm loans, This type of loan is near impossible to find. VA loans are zero down, so your asking a lender to build a home with nothing out of pocket, and hope that 6 months to a year down the road when the home is finished, that your still able to obtain the financing.. If you find anyone that says they can do it, you should be skeptical, but if they actually can do it, then there's no need for shopping.. you just found your needle in the hay stack.. 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

Oct 21st 2014
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Brian Allen (ballen)
#43 ranked lender in Maryland - 190 contributions

The VA construction loan is your permanent loan typically you will not have a full payment during the construction phase. Unlike the traditional payment schedule of VA mortgages, VA construction loans vary depending on if the borrower purchases an existing property or a new construction home. In the former case, borrowers will begin mortgage payments immediately, although for the latter, borrowers will not pay until construction has been completed.Borrowers who secure VA construction loans will be responsible for the mortgage payments that accrued during the home construction, but at a later date. For instance, if the home construction takes 12 months to finish, the borrower must pay an adjusted monthly mortgage in order to compensate for the time that the mortgage was unpaid during home construction. Alternatively, borrowers may elect to pay a balloon payment at the end of the loan term to cover the deficiency.Either way, borrowers can best anticipate these payments by depositing mortgage payments into savings during the construction phase of the process. Once the home is finished and payments start, the home buyer will already have money in reserve and will not risk falling behind on either higher interest rates or a balloon payment. For more information you can contact me toll free 800-485-1387 ext 116 or email ballen@bankofengland1.com

Oct 23rd 2014
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Ed Campbell (EdCampbellVA)
#79 ranked lender in North Carolina - 22 contributions

VA and FHA both offer this program, Both VA and FHA are limited to the maximum loan limit per the county you live in.Message me for more information

Jul 31st 2015
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