VA Construction Loans
The VA Construction loan is a loan that covers the cost of building a home and is also backed by the Veterans Affairs, should the home loan ever go into default. While not many lenders offer this loan, here at Strategic Mortgage Solutions, we’re proud to offer it to qualifying Veterans or active duty military personnel. APPLY TODAY by choosing your Loan Officer.
VA Construction Loans
The VA Construction loan is a loan that covers the cost of building a home and is also backed by the Veterans Affairs, should the home loan ever go into default. While not many lenders offer this loan, here at Strategic Mortgage Solutions, we’re proud to offer it to qualifying Veterans or active duty military personnel.
How Does the VA Construction Loan Work?
This construction loan, backed by the veterans affairs office, is a short-term loan you can use to cover the costs of land, permits, materials, and labor to build the home. Once the house is complete, the loan will convert to a traditional VA home loan. This loan can also be used to buy a manufactured home and put it on land.
Loan Benefits
No Down Payment
The VA construction loan doesn’t require anything for a downpayment.
Delayed Mortgage
This loan doesn’t require payment until the house is complete and ready for move-in.
620 FICO Score
Requirements to be approved for the VA construction loan are more relaxed than traditional lending.
Interest Rate Lock
Interest rate lock protection not only protects you but your finances as well.
Apply Today
To apply for your VA construction loan, reach out to one of our experienced loan officers. If you have any questions, don’t hesitate to call or stop on by.
