VA Construction loan

With VA construction loans, veterans can seize the opportunity to acquire land and construct their ideal home under the VA home loan program. The one-time close VA construction loan streamlines the process, enabling you to secure a lot or utilize your current one for building your dream home. Throughout the construction phase, veterans are alleviated from mortgage payments until the project reaches completion.

At our service, we extend VA construction loans of up to $1M without necessitating any down payment. For projects ranging between $1M and $2M, veterans can benefit from a modest 5% down payment. This means you can actualize your dream home while leveraging your VA entitlements, ensuring a seamless and affordable path to homeownership.

VA Construction Loans for Texas Veterans 

Eligibility and Benefits: Texas veterans eligible for VA benefits can apply for a VA construction loan, enjoying the hallmark advantages of no down payment requirements and exemption from private mortgage insurance (PMI). This is particularly advantageous in Texas’s diverse real estate market, offering a range of rural to urban settings for building a home. 

Texas Veterans Land Board (TVLB): In addition to VA construction loans, Texas veterans should explore programs offered by the Texas Veterans Land Board (TVLB), an invaluable resource providing land loans, home loans, and home improvement loans exclusively for Texas veterans. While not directly related to VA construction loans, TVLB programs can complement the benefits of VA loans, offering additional financial options. 

One-Time Close Loans: For Texas veterans, the one-time close construction loan is an efficient option, consolidating the construction loan and permanent mortgage into a single loan. This simplifies the process, reducing closing costs and locking in interest rates from the start. 

Two-Time Close Loans: Alternatively, Texas veterans may opt for the two-time close loan, allowing more flexibility during the construction phase but requiring separate closings for the construction loan and the permanent mortgage. This option can be suitable for veterans seeking more control over the construction and financing phases.

Finding a VA-Approved Builder in Texas: One critical step for Texas veterans is selecting a builder registered with the VA. The Lone Star State boasts a vast pool of talented builders experienced in working with VA construction loans, ensuring that veterans can find a reputable builder to bring their dream home to life. The builder does need to be VA approved through the Department of Veteran Affairs. You can look up an approved builder by visiting VA Approved Builders

If your builder is not VA approved, we can assist your builder in this process by helping them obtain a VA Builder ID that is required in order to become a VA approved builder.

Navigating Texas Real Estate Regulations: Texas veterans should be aware of state-specific real estate and construction regulations, including zoning laws, building codes, and property taxes. Partnering with knowledgeable builders and real estate professionals familiar with Texas laws can streamline the home-building process.

Community and Support: Texas offers a strong community of veterans and military families, providing a support network throughout the home-building journey. Local veterans’ associations and organizations can offer advice, share experiences, and provide guidance specific to Texas veterans’ needs.

Application and Approval Process for Texas Veterans

  • Certificate of Eligibility (COE): Texas veterans must obtain their COE, confirming their eligibility for VA construction loans based on military service.
  • Lender Preapproval: Obtain your pre-approval from so you know how much you are qualified for to purchase and build. You will also learn all about the VA Construction Loan process and a VA Loan Specialist will help answer all the questions you have and guide you through the process. Apply Now to do an application.
  • Selecting a VA-Approved Builder: Choosing a builder who is already VA-approved or willing to undergo the approval process is crucial. Many Texas builders are familiar with VA requirements and can assist in navigating the approval process.
  • Plan Submission and VA Appraisal: Submit detailed construction plans for approval, followed by a VA appraisal to assess the future value of the home. This ensures the loan amount aligns with the property’s value.
  • Closing and Construction: After closing, the construction phase begins. Texas veterans should stay engaged with their builders and lenders to ensure smooth progress and adherence to VA standards.
  • Final Inspection and Transition to Permanent Financing: Upon completion, a final inspection confirms the home meets all VA and Texas standards. The loan then transitions to permanent financing, marking the final step in the home-building journey for Texas veterans.

Texas veterans considering building a new home should explore the advantages of VA construction loans, leveraging this benefit to achieve homeownership. With the right preparation, understanding of the process, and support from Texas’s veteran community, building a dream home in the Lone Star State can become a rewarding reality.

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