In this article we are going to talk about building a home with a VA loan. Here at Low VA Rates we often get the question, can you use a va loan to build a house? Lets take a closer look how to use your VA home loan benefits to build that home you’ve been dreaming of designing. Whether you’re PCSing, retiring, or have finished your service and are ready to use your benefits to build your dream home, we can help you get there.
You may have heard that it’s not possible to do construction loans through the VA, but this is just because some lenders don’t offer them. We at Low VA Rates offer construction loans because we believe they’re a great option that all veterans should have access to.
1. Find a VA Expert
We at Low VA Rates specialize in VA loans, so we’re familiar with both the details of the loan type and the unique payday loans IA needs of veterans. We’ll help you make sure that before you begin down the building path, there’s no doubt about your credit and income qualifications.
2. Identify the Builder
If you’re planning to build a traditional, stick-built house, the Department of Veterans Affairs (VA) website has a list of registered builders.
However, even if you have a builder you want to work with that is not on that list, it doesn’t mean you have to find someone else. Your VA expert should be able to guide you through how to get that builder registered, which is a simple process.
3. Look for Land
Once you’ve worked with an expert and identified a builder, you’ll need to find a piece of land. There are a lot of places in this wonderful country that you can build your dream home, whether that’s a traditional stick-built house or a modular or manufactured home.
There are specific standards that must be met for each home type, but some general things you’ll want to consider when looking for a property are:
- Roads – The VA has unique requirements regarding roads. (more…)