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who offers VA construction loans

by rgarcia118 from Boston, Massachusetts. Jan 23rd 2020 Reply

Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,703 contributions

There are two types of construction loans. 1) You pick a lot and home from a builder in a new neighborhood. You put a little down, and we do a VA loan when it's done. Easy. 2) You find some lot somewhere, find a builder, and you take out a construction loan. You pay off the construction loan when done with your long-term loan, like a VA loan. Problem is you'll need at least 10% down for the construction loan. Many people are looking for #2, but no money needed because they want to go VA. True VA construction loans like #2 are like a White Unicorn. Said to exist, but no one can find one. I am not aware of anyone offering #2 with no money and a VA loan, but all kinds of people doing a construction loan with down payment, and a VA loan when all done (including us). I do VA loans in MN, WI, SD, ND, IA. I can be reached at NMLS274132

Jan 24th 2020
John Burke (jburke)
#29 ranked lender in Texas - 293 contributions

Hi Rgarcia,I have a true VA One Time Close construction loan that allows you to build with no money down. The downside to this option is it will cost you more than a traditional VA loan BUT you're getting to buy land & build a home with no money down & no monthly payments during the construction period! | John Burke | Senior Mortgage Banker | Lending in ALL 50 states |Great Plains Bank | | (877)228-9069 | NMLS# 787231 |

Feb 13th 2020
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