Who can help me with a VA Construction loan in Illinois?

VA does allow for construction loans, however, most lenders will not do VA construction.. but understand that this is in reference to a "Custom Build".. meaning, you find a lot, and hire a builder and have a home built.. this is a very difficult loan to do with VA since most builders will not build on their own money with the hope that they get paid 9 months to a year down the road.. however if your talking about purchasing a home in a new home subdivision, or a Tract home, then typically these builders do build on their own dime.. you enter into a contract, give a deposit, and upon completion you finance the home.. this type of construction would be acceptable for most lenders since in it's truest form, is not really a construction loan.. .. 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 480-287-5714 WilliamAcres.com

Are you looking to build new or put an addition on to an already existing property that you own or would like to purchase?

This is a notoriously tough loan to find. VA does allow it, but most (all that I have heard of) lenders will not do a VA construction loan. I'm referring to an actual loan to build the home. VA does finance new construction, which are homes already built by a builder. My guess is that you'll have to make quite a few calls and maybe do some searches online. If you do find a lender, please come back and let us know so that we can provide their info to anyone who asks in the future.

Feel free to contact me when you have more information as I more than likely have a 2 part solution for you I am here in IL and very familiar with the Galesburg Area as my brother and I are graduates of Knox and Monmouth College. jmurray@lambmortgage.com or 312-256-4065. I am available 24/7 so please leave a message if I don't answer and I will return your quickly. Thank you for your service.