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who gives VA construction loans

by chris_white_01_02385 from Paola, Kansas. Jun 22nd 2017 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

More info needed, but in general, A VA construction loan is literally the "needle in the haystack" type loan.. it's not impossible to find, but near impossible. If you are looking to purchase a new home that's in a subdivision (tract home).. then typically, these types of purchases are done with a deposit to the builder, and then once the home is completed, you apply for a loan. if this is your scenario, then VA is not a problem.. but if you are looking to build a custom home... Find a lot, buy it, hire a builder, build it, and then once completed, finance it with VA.. then this will be near impossible to find using VA right from the start.. If you already own an unencumbered lot, then you could easily find a lender to do a construction loan.. once the home is finished, you can apply for a VA loan to pay off the construction loan.. This would also be relatively easy to do.. 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

Jun 22nd 2017
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