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looking for a VA construction loan. New build.

by lhcmom77386 from Lake Havasu City, Arizona. Jul 27th 2017 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

Here at RPM, we have a high admiration for our military veterans, especially those who have incurred disabilities as a result of their service, so on behalf of RPM mortgage , Thank you for your service and sacrifice. I get asked this question quite a bit.. The short answer is YES.. this loan is available.. somewhere.. but I cant tell you where.. Although VA does have a construction loan option, the hard part is finding a lender willing to do a VA construction loan.. This is near impossible.. If you already own the land or you have 20% of your own funds, then you can apply for a construction loan, and then upon completion, do a VA cash out refinance.. VA will go 100% loan to value, up to the total cost of the property or the appraised value, the lower of the two.. But finding a lender to do a VA construction loan which converts to a permanent VA mortgage.. That's 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 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Jul 27th 2017
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