Ken Burrows | VA Construction Loans

Just five years ago, it was nearly impossible to find a lender willing to make construction to permanent loans, especially no-down-payment VA construction loans. Today, more and more lenders are offering these one-time close loans, so it’s important to understand how they work. Here are five things to know about VA construction loans: The builder must be VA approved: The contractor building your home must be licensed and willing to submit paperwork to become a VA-approved builder. The VA … [Read more...]

Like any agreement, the terms of a home mortgage, including construction loans, can be negotiated. Attempting to obtain home financing is stressful enough without having to add master negotiator to your resume. So we've put together 3 tips for negotiating a construction home loan to make the process easier: Be Prepared: Do your research prior to meeting with your loan office. Since construction loans can be complicated, look for a lender that specializes in this area. Know what the current … [Read more...]

Construction loans can be difficult to navigate. Homeowners and their contractors are expected to adhere to tight deadlines and make sure everything goes as planned in order for the contractor to get paid. Since the lender controls the purse strings with a construction loan, there’s no room for error. When you add the Department of Veterans Affairs into the mix, there’s an entirely new layer of bureaucracy to navigate. From choosing a VA registered contractor to meeting the VA’s minimum … [Read more...]