VA Construction Loan is a specialized type of mortgage designed for veterans, enabling them to use their VA home loan benefit to build a custom home while enjoying the same advantages as a standard VA loan. These benefits include no down payment, no private mortgage insurance, competitive interest rates, and flexible credit requirements. This is a single-close loan, meaning the financing for both construction and land (if not already owned) is handled in one closing. After closing, construction begins, and upon completion of the home, the loan automatically transitions into a permanent VA loan without requiring a second closing.
