The big picture
Part 1 · Before we build
A clear path from application to closing, so you can build with confidence.
Step 1 of 10 · Getting started
Pre-approval & planning
We review your goals, budget and loan options to determine your purchasing power — so you shop for lots and builders with a real number.
Step 2 of 10 · Getting started
Lot & builder selection
Secure your lot and finalize your builder, floor plan and overall budget. Choose an experienced builder — VA no longer requires a VA builder ID.
Step 3 of 10 · Building your loan
Application & documents
Complete your loan application and upload the required income, asset and credit documents.
Step 4 of 10 · Building your loan
Processing & loan setup
We structure your loan, review the builder’s documents, and prepare your file for approval.
Step 5 of 10 · Building your loan
Appraisal ordered
An appraisal is completed based on your plans, specs and budget to determine the home’s future value. For a VA loan, this is a VA appraisal “subject to completion.”
Step 6 of 10 · Building your loan
Underwriting review
Your loan and your project are reviewed for final approval, and any remaining conditions are identified.
Step 7 of 10 · Approval
Loan approval
Your loan receives conditional approval, and we guide you through any final requirements.
Step 8 of 10 · Approval
Clear to close
All conditions are satisfied. Your loan is fully approved and ready for closing.
Step 9 of 10 · Closing & kickoff
Closing
Final documents are signed, any required cash to close is paid, and your construction loan is funded. This is your one and only closing.
Step 10 of 10 · Closing & kickoff
Ready to build
Construction begins and your new home officially gets underway.
30–60 days from application to closing
- Timelines can vary with the appraisal, documentation and builder details.
- Consistent communication keeps your loan moving forward.
- All changes to plans, budget or builder must be approved by CrossCountry Mortgage.
Part 2 · From closing to your new home
We’re with you every step of the way. Here’s what to expect after your loan closes.
Step 1 of 10
Loan closed
Your loan is funded and construction can begin. Your plans, budget and timeline have been approved.
✓ You’re cleared to build!
Step 2 of 10
Meet your draw specialist
You’re assigned a dedicated draw specialist who guides and supports you throughout construction.
✓ Your team is here for you.
Step 3 of 10
Draws & progress
Funds are released in stages as construction progresses. Each draw is based on completed work, verified by inspection — your builder is never paid ahead of the work.
✓ Fast, transparent and efficient.
Step 4 of 10
Flexibility for changes
Need to make a change or upgrade? We help you submit and approve change orders.
✓ Contingency funds may be available.
Step 5 of 10
Stay on track
Keeping your finances stable — no major purchases or new credit — helps ensure a smooth path to completion.
✓ We guide you every step of the way.
Step 6 of 10
Final inspections
As construction wraps up, final inspections are completed and your home receives its Certificate of Occupancy.
Homeowner’s insurance must be active before occupancy, with the first year paid upfront.
✓ You’re almost home!
Step 7 of 10
Final draw
Once everything is complete and approved, the final funds are released to your builder.
✓ Construction is complete!
Step 8 of 10
Rate float-down
You may have a one-time opportunity to lower your rate before your loan converts.
✓ We evaluate this for you at the right time.
Step 9 of 10
Loan modifies
Your loan converts from construction to permanent financing through a loan modification — not a second closing.
✓ We handle the details and keep you informed.
Step 10 of 10
Your home. Your future.
Your permanent VA loan begins and you’re ready to enjoy your new home.
✓ Welcome home!
Tips for a smooth build
Respond promptly to requests and e-sign documents quickly.
Keep your finances stable — avoid major purchases or new credit.
Stay in touch with your builder and your loan team.
We’ll keep you updated at every step.
- The final draw and loan modification can take up to 30 days, depending on the final inspection and required documents.
- Before the final modification, homeowner’s insurance must be active (first year paid upfront) and property taxes paid current.
- Your final interest-only payment is due at modification and may include up to 45 days of interest.
- Your plans, budget and specifications are locked — any changes must be approved by CrossCountry Mortgage.
For builders: from closing to project completion
Building for a veteran with a VA one-time-close loan means one approved budget, a clear draw schedule and a dedicated contact for every draw. VA no longer requires a builder ID, so if you’re an experienced builder, you can build for VA buyers.
Before closing, we’ll work from
- Plans, specifications and a detailed budget for the home
- Your builder documents, reviewed during loan processing
- A draw schedule tied to construction milestones
Your buyer’s loan is approved around your plans and budget, so getting these right up front keeps the whole project on schedule.
Step 1 of 7
Loan closed — closing draw & deposit options
Up to 10% of the total cost can be available at closing, or spread across future draws, for deposits. The project is funded and the plans, specs and budget are approved.
✓ Ready to break ground.
Step 2 of 7
Meet your draw specialist
You’re assigned a dedicated draw specialist who guides and supports you throughout the build.
✓ Dedicated builder support.
Step 3 of 7
Online draw management
Submit draws, track progress and receive updates in real time through an online portal — with fast processing, 24/7 updates and e-signatures.
✓ Faster, simpler draw management.
Step 4 of 7
Draws & construction progress
Funds are released based on completed work and inspections, according to the approved budget and draw schedule.
✓ Reliable, predictable funding.
Step 5 of 7
Change orders
Submit change orders early to allow time for review and approval. Change orders and upgrades are subject to available contingency funds.
✓ Efficient, builder-friendly process.
Step 6 of 7
Final inspections
As construction wraps up, final inspections are completed and a Certificate of Occupancy (or equivalent) is issued.
✓ Project completion in sight.
Step 7 of 7
Final draw & project completion
Once everything is complete and approved, the final funds are released.
✓ Project successfully delivered.
Keys to builder success
Submit draw requests promptly and accurately.
Lean on your draw specialist.
Communicate consistently.
Keep schedules and milestones updated.
Maintain budget discipline.
Building for a veteran? Let’s talk before the contract.
Fifteen minutes with Shirley sets up your buyer’s loan — and your draws — the right way. During the build, your draw specialist is your go-to contact.
Construction journey FAQ
How long does a VA construction loan take to close?
Typically 30–60 days from application to closing, depending on the appraisal, documentation and builder details.
How do builders get paid on a VA one-time-close loan?
Through draws. Funds are released in stages based on completed work and inspections, following the approved budget and draw schedule. Up to 10% of the total cost can be available at closing, or spread across future draws, for deposits.
Can I make changes after construction starts?
Yes, through a change order. Submit it early so it can be reviewed and approved; changes and upgrades are subject to available contingency funds. Plans, budget and specifications are otherwise locked, and any change must be approved by CrossCountry Mortgage.
What happens when the house is finished?
After final inspections and the Certificate of Occupancy, the final draw is released and the loan converts from construction to permanent VA financing through a loan modification — not a second closing. The final draw and modification can take up to 30 days.
Can I lower my rate before the loan converts?
You may have a one-time opportunity to lower your rate (a float-down) before conversion. Shirley’s team evaluates this with you at the right time.
Does my builder need a VA builder ID?
No. VA eliminated the builder ID requirement for guaranteed loans in 2025. Choose an experienced builder, licensed where your state or city requires it.
