Forgotten Your Password?

Need to Register?

Question Icon

How can i get a VA Construction Loan on my own property?

by ast568425 from Heathsville, Virginia. Aug 1st 2017 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

Yes and No.. VA does offer VA construction loans, but VA does not lend money.. they only insure loans against default.. so you need to find a lender that does them.. and herein lies the problem.. it's nearly impossible to find a lender in the country who does VA construction loans. Your far better off using a local lender to get a construction loan.. and then once the property is complete, you apply for a VA loan. This should be fairly easy to do.. Understand that you will need to have sufficient equity on the land you are building on.. so if it's paid off, then it should meet the lenders minimum contribution.. if it's not paid off, but you owe very little.. it still might work. 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 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Aug 1st 2017
1
0
Subscribe to our news feed.