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I'm using a VA Construction loan. What is the process from approval, contractor, appraisal, mortgage?

Veteran

William Finnegan New York, NY

I'm a 100% permanently disabled veteran and am not obligated to pay property tax. I'm building a quadplex with a storefront in a opportunity zone. I need someone with industry experience to talk with.

3 June 2021 2 replies General

Answers

Advisor

James Watters Norman, OK

Lance Corporal Finnegan -

Securityamericamortgage.com. - “Call us at
(855)468-2669” - This is a private company located in Houston, Texas.

“We Are VA Construction Loan Experts - Get Started Today” is the headline to the website you want. Here is some of the text...

“Whether you’re a veteran or active military member looking to build a custom home, a VA construction loan could be the perfect solution for you! Custom homes can come with a slew of complicated loan procedures, only prolonging your tailor-made house dream. But because of your military background, you have extra options that others don’t. You have access to VA home construction loans that offer nothing down and additional perks and benefits.”

“The VA construction loan is a start-to-finish loan with three basic stages:
1. Purchasing the land you want to build on.
2. Covering the construction of your house.
3. Serving as your mortgage once your house is finished.
Similar to the VA loan for an existing home, a construction loan can come from a traditional lender, but you have VA support backing up finances in case a rainy day threatens to default your loan. Once eligible, (register for a certificate of eligibility or COE) you can apply for and close on one loan which covers every stage of home-building.”

There’s more – check it out. Hope it’s the information you need. Good luck Marine.

Advisor

Yoni Auerbach New York, NY

Hi William,

Thank you for posting your question and for your service!

One of my colleagues recently went through the VA home loan approval process. Though different than construction loans, their recommendation was to identify and interview several lenders in your area to ask questions regarding their specific processes and timelines.

I hope this helps!

Best,
Yoni

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