Your VA Homestead - Homestead Heritage Mortgage NMLS # 2597038
VA Construction Loan
Build Your Dream Home with a VA Construction Loan
VA construction loans allow eligible veterans and active duty service members to build a home from the ground up using their VA benefits. Instead of getting a separate construction loan and mortgage later, a VA construction loan allows you to finance the land, construction, and permanent mortgage into one loan.
This means little to no down payment in many cases, competitive interest rates, and no private mortgage insurance. It's a great option for veterans who want to design and build a home that fits their needs.
How VA Construction Loans Work
With a VA construction loan, funds are released to the builder in stages as construction progresses. Once the home is completed, the loan automatically converts into a traditional VA mortgage.
Typical features include:
• Finance the land purchase and construction together
• Low or no down payment for qualified veterans
• No PMI (Private Mortgage Insurance)
• One loan from construction to permanent financing
• Competitive VA interest rates
Because VA construction loans involve more steps than a typical mortgage, working with a lender experienced with VA construction financing helps ensure the process moves smoothly.
Flexible VA Approvals for Veterans
We work hard to help veterans qualify even when traditional approvals fall short.
We can often help borrowers with:
• Lower credit scores than many lenders accept
• VA manual underwrites when automated approvals fail
• Self-employed or complex income situations
• Veterans looking to build their primary residence
Our goal is to make building a home with your VA benefits as simple and stress-free as possible.