I am about to be leaving the service this year and have been looking around for property to house my family in, we've finally agreed on a plot of land and what we want to build for a "forever" home with a buddies family as well. ive been told by quite a few people that im able to do a land/construction loan through the VA loan however the three reputable companies (Veterans United, Navy Federal and USAA) I know of says that im unable to. is there a way to get the land and construction under one loan with the "0% down" as the VA advertises?
Trying to get land & home for family ready for leaving the service
byu/Level-Tension-9021 inMilitaryFinance
Posted by Level-Tension-9021
1 Comment
Searched the internet and found this second link: [https://www.veteransunited.com/valoans/va-construction-loans/](https://www.veteransunited.com/valoans/va-construction-loans/)
Most lenders won’t finance the construction, but will finance the home after construction is complete. So your steps are
1 – VA loan the land
2 – standard construction loan
3 – VA loan the house after construction