What to know when shopping for VA construction loan lenders

When it comes to shopping VA construction loan lenders, one might find it a daunting task.  There is so much misinformation online.  When searching VA Construction Loan lenders on Google and Edge, you might have noticed Veterans United taking the top spot.  But the big question is, do they actually do a true VA construction loan.  Legitimate VA construction loan lenders like Security America Mortgage do a VA one time close construction loan whereas some lenders will tell you to go find construction financing and then seek a permanent VA loan when completed.  In this blog I want to be clear what you can expect from VA construction loan lenders like Security America Mortgage, Veterans United, Loan Depot and Rocket Loan.  

Are all VA construction loan lenders the same? 

Many Veterans are wondering the answer to that question so I’m writing this blog to set the record straight.  The answer is emphatically NO.  You might not come to that conclusion if you’re just searching around on the internet. In this age of misinformation, you might thing some of the VA construction loan lenders on the first page of web browsers are the best. 

I spent some time trying to figure out how both Veterans United and Rocket loan are on the first page of Google as VA construction loan lenders providing a VA Construction loan.  I scoped both of their websites out and didn’t see anywhere on there where I or anyone else could apply for a VA construction loan.  So, I asked myself why do they have so much content about a product they don’t offer.  The most logical explanation that I could come up with is that they hope to convert you over to a purchase of a new, existing home or provide permanent financing when your home is completed. 

Do VA construction loan rates vary much by Lender? 

According to senior loan officer, Jason Noble, who specializes in the VA one-time close construction loan; what makes Security America Mortgage the best VA construction loan lender is the fact that it’s a smaller company with less overhead.  He goes on to say “when competing with companies like Loan Depot it’s easy to beat them because they have so much more expenses than a small family-oriented company like Security America Mortgage.  

How do VA Construction Loan Rates compare to VA loan Rates? 

If you’re a Veteran or civilian building a home then you are probably aware that build times can vary based on the type of home you’re building, country restrictions, qualifications, builder availability, etc.  Since building a home can range from a few months to several months then it means your guaranteed fixed rate is protected in the future.  To do so means risk is built into your interest rate.  For example, if you’re buying a home and lock your rate for 30 days then obviously that rate is going to be better than if you lock the rate for 60 days, 180 days etc.  To reduce interest rate volatility, you’re going to pay a higher rate.  VA construction loan rates are typically 1 percent higher than VA loan rates for that reason. 

How do I find the Best VA construction Loan Lender? 

If you’re reading this then you’re in the right place.  We were one of the mortgage companies to focus on the VA construction loan.  It’s actually our specialty and our staff is trained to process one time close construction loans like the VA one time close construction loan, FHA one time close construction, USDA one time close construction loan and conventional one time close construction.  You can easily see our google reviews and notice that we have many Veterans who were very happy with their newly built home and the VA construction loan process with us. 

The amazing VA construction loan Texas 

Security America Mortgage is founded by me, Garrett Puckett, a 5^th generation Texan.  Serving Veterans who want to buy or build a house with va loan is my passion.  We are headquartered in Texas and we serve Veterans in many other states.  Texas is a great place to build a home because Texas is a great state. Not to mention, it has one of the highest Veteran populations, top state economy, no state income tax, job opportunities and much more.  A VA construction loan Texas can be a great way to build the home of your dreams.  We are so grateful for our military service members and we want to show that gratitude by helping you get a home built in Texas! 

To get started simply fill out our short form.  Remember a few facts too. 

1. The VA construction loan is only for building on your homestead. 
2. Owning land before hand makes the process easier  
3. If you don’t own land it is possible to still make it part of the va one time close construction loan transaction. 
4. Check out our va approved builder map because getting a VA registered builder approved by a VA lender is essential.