Whether you’re buying, refinancing, building or remodeling a home, Mortgages For America has the right VA-backed and non-VA home loan product to fit your needs. And we’re excited to announce our new website, rehabloans.org, which highlights our home renovation and construction programs. How rehab loans work RehabLoans.org will specialize in providing financing for homeowners looking to build or remodel their dream home. With no-money-down construction and renovation loans backed by the U.S. … [Read more...]
Build your dream home with no money down
Two years ago, it was difficult to find a lender willing to loan money on a zero-down VA construction loan. But as more and more lenders expand their product offerings, this valuable loan product has resurfaced and thousands of veterans are taking advantage. But before you head out to construct your dream home, there are a few guidelines you need to understand. For starters, you have to find a VA approved builder. This program does not allow you to build the home yourself. In order for a … [Read more...]
Understanding the VA Construction Loan Process
Using a VA loan to build a new home is similar to using a VA loan to buy an already existing home. However, there are a few important distinctions. As many people already know, the U.S. Department of Veteran Affairs (VA) backs home loans to eligible military borrowers. Since the VA doesn’t actually lend money, but instead insures lenders against possible default, every loan has different requirements. Here’s what you can expect with the VA construction loan process: You must be … [Read more...]
Remodeling with a VA construction loan
VA construction loans can be used to build a custom home or to remodel your existing home. Qualifying veterans can apply for VA construction loans through us today. We are proud to offer VA construction loans at Mortgages for Veterans. VA Rehab Loans Similar to construction loans, the VA offers rehabilitation loans, which can be used to renovate an existing property. The process is the same as apply for a VA construction loan in that the borrower needs to submit plans and specifications … [Read more...]