VA One Time Close Construction Loan

Land you already own can count toward the down payment, and a one time close loan can pay off what you still owe on it. There is no set acreage limit on my end, larger parcels are reviewed case by case, and the review changes once a parcel is over 25 acres. Rural Maine lots often have no public water or sewer, so a well and septic system need attention before the loan closes. Site work, septic design, the driveway, power and water belong in the construction budget from day one. Confirm legal access, zoning and utilities before buying rural land.

The home must be intended as an eligible primary residence. Your Certificate of Eligibility and entitlement are part of the review, but approval also depends on credit, income, the property's VA standards, the builder, and the lender's VA construction guidelines. A VA funding fee may apply unless you qualify for an exemption.

I arrange VA one time close construction loans in Maine and Florida, for a stick built home, a modular home, and the land. Your documentation is whatever the VA program requires, nothing extra.

A lot under contract or one you already own may be considered. If you already own the land, it can be used toward the down payment. There is no set acreage limit. Every property is reviewed case by case, and once a parcel gets over 25 acres the review changes, so larger parcels need a closer look before you commit to the land. The lender needs to understand title, access, utilities, zoning, and whether the planned finished home can be appraised and permitted.

The builder must have at least a three year history and 10 or more projects, with at least five completed, plus a Dun and Bradstreet score or an acceptable credit score, and proper references. You cannot act as your own builder. Expect a review of the contract, plans, specifications, construction schedule, and applicable insurance or licensing. I work with multiple builders in each state. Ask about requirements before paying for major plans or making nonrefundable commitments.

The lender reviews the complete proposed project before the single closing. During construction, approved funds are released through a draw schedule backed by progress documentation or inspections. A 5 percent contingency reserve is built into the budget, and unapproved changes can delay a draw.

I also explain how the selected program handles the completion inspection and move into the permanent phase. The exact process is lender specific.

A Maine build calls for careful review of rural utilities, site work, and seasonal access. A Florida build calls for early attention to permits, insurance, wind exposure, and flood elevation where applicable. These are project questions, not automatic disqualifiers.

Read the existing state guides below for the broader one time close process, then bring me the lot and builder information so I can check your scenario.