VA Construction Loan: A Few Things to Know
Did you know that a VA home loan can be used as a VA construction loan? According to the Department of Veterans Affairs, which oversees the VA home loan program, you can use VA home loans to buy, build, or refinance a home. It's important to shop (and maybe shop some more) for a VA loan that you will use to build a home, as construction loans are considered a higher risk investment by some lenders. These tips can help you find a VA construction loan.
Ask your financial institution and shop local lenders for VA home loans that can be used to build a home.Discuss financing needs with local home builders. They may know of banks offering VA construction loans.Shop VA loans