VA Construction loans for our nation’s heroes
The Department of Veterans Affairs provides VA construction loans to our nation’s heroes to purchase land and build their dream homes. If you’ve served in the military and you’re eligible for VA benefits, you can qualify for VA loans either to purchase an existing home, or build your own.
To apply for VA construction loans you’ll follow the same process as you would if you were purchasing an existing home. To do so, you’ll need:
• Your VA certificate of eligibility
• To fill out a VA loan application
• To provide the lending company with the necessary papers to prove your ability to repay the loan
Once your VA construction loan is approved and closed, the land will be paid for and an escrow account will be established. The home builder will be paid from the escrow account.
The borrower will not have to pay a monthly mortgage payment until the construction is completed.
Midland Mortgage Corp. is proud to serve those who have so selflessly served our Country.
For more information about VA construction loans, contact the loan specialists at Midland Mortgage Corp