can we use VA loans to build a house?
149165
Yes, if you qualify. Call your nearest VA office.
1114813
In a construction loan, you can use the portion of equity you have in the land towards the total "finished" value. Basically, your down payment is within the land that is already payed off. I specialize in commercial/construction loans if you'd like to see about getting an approval, let me know.\n\nSome basic questions:\n\n-Do you have plans already\n-What is the zoning of the land\n-what are the total construction costs\n-Do you have permits\n-Where is the property located\n-what do you estimate the value (completed) to be\n-Are you and your significant other employed/retired & what income/how long on your jobs\n-is the property in a rural or urban area\n-what is your credit situation\n\nThese questions should be enough to get some accurate figures for you.
318074
Real Estate agents just want to sell you the house.  The mortgage lenders are the ones that may or may not be able to do VA loans.\n\nThe Real Estate agent WILL need to know that you are doing a VA loan so that when they do the offer/contract, they can notify the sellers that they need to pay some of the closing costs that the VA require.
129739
If you are a veteran or know one, contact the V.A. at (800)827-1000.You can secure a V.A. loan with no money down. Otherwise go to www.firstgov.gov which is the main portal of the Federal Government. I believe the above phone # is correct, if not you can also look that up on the web site.
212280
Check with your local Housing Authority to see if they offer any programs that can help. Also check with FFA,HUD and the local office of any real estate company, they may guide you into the right program for you. As well, if you have any prior military background, you could check into a Veterans program for houses. Hope this helps.
37883
Definately, thank you for your service to our country.  \n\nVA loans were very unique when they came out because they offered 100% financing to our vets, for those who qualify.  It was designed back in the days when 100% financing was not as accessable as it is now. You need to check with your local VA to see if you qualify for their certification, but your credit and financial situation still has to qualify for the loan if it is possible to obtain a refinance this way.\n\nMy name is Laura. I am a mortgage broker loan officer and will have to check with my lender to see if they can do a refinance if the home was not purchased with the VA benefits.  Please give me a call if you'd like me to research this: \n877-659-5626.\n\nYou may check our website out for more information about my team.  I love for a chance to help you.
990834
It's called a bridge loan.  Most lenders can help you.  The risk is obvious if your current house doesn't sell in a timely manner at a price close to what you expect
88573
I almost did, but found out I would be paying almost twice a much for house.  You can get non-documentation loan, but they are tricky too.  Check with several real estate agents or an attorney.
1011617
fha is for everyone can apply, and va is only for veterens, people who have been employedby government service
761668
Apply at a mortgage company in your area, not a bank- they don't pay anything. Take any experience you can get, whether it's in processing or in loan servicing. Hopefully, you can find a lender that does all. The bigger the better, as they will have a good training program and provide benefits. Soak it up like a sponge.\nThat's how I started, and I have gained a wide range of experience and now own my little mortgage company.\nI started out processing VA and FHA loans.\nNasty little adventure with in-home demo sales turned me off taking the RE exam...\nGood luck!
927124
Call the Veteran Administration and find out what is available.  Your mom wouldn't be able to go into a VA home, unless she is a veteran too.
860571
Yes if you pay monthly rent or mortgage payment then that is the amount you would use.
998587
The VA does not normally make direct loans.  The loan is made by a bank or mortgage company.  They use their standard underwriting rules when qualifying you for the loan.  The VA only guarantees part of the loan.  This guarantee is usually sufficient to avoid having to provide a down payment.\n\nWhen I retired from the AF, I had a job offer in a different area 2 months before my last duty day.  It just takes work to do that, but it's entirely do-able.  I was able to get a mortgage based on my employment history and the new job committment.\n\nMost lenders like to see a stable employment history, typically 2 or more years in the same industry and 6 months in your current job.  You alread meet that test.  Many lenders specialize in working with military personnel.  Ideally, look for a credit union with military ties in your new location.  If they are satisfied that you are likely to find a position that provides sufficient income to pay the mortgage they may will take a chance on you.  At the very least, they will probably give you a conditional approval based on finding a job with adequate income.  You'll probably need to actually get the job before they'll fund a mortgage but at least the scut work will be done.\n\nIf you can't fnd a lender in advance and don't have a job prior to your ETS you'll have to rent at least temporarily.  Ask for a month-to-month contract as you're trying to buy a home.  Or ask for a clause in your lease that allows you to break the lease to move into a purchased home.  That's not unusual.  Not all landlords will do it but it doesn't hurt to ask.  I did that twice in my military career and one time the landlord agreed to add the clause AFTER I'd signed the lease.\n\nUnless you ask for what you want, the answer will automatically be "No!"  And if the first lender or landlord says, "No!" then look for another one.  Someone out there IS willing to work with you on this, you just need to ask around.
203764
Vacant land is harder to qualify for lending. It is not so easy to sell and so the bank won't lend as much. Yes, the bank, you can't borrow money for vacant land like you can for a mortgage, so you don't have the same large pool of money to borrow from. \n\nYou will be required to put as much as 50% down and maybe as little as 25% if you are lucky. I would verify this though as my info about this came along to me a while back and things may have changed a bit since then.\n\nYou might have better luck if you are going to live there, maybe a mobile home trailer or maybe a small manufactured home, or just go for the gusto and get a construction loan to build the house you want there.
505996
Yes you can.  I'm a soldier at Ft Hood in the same situation.\n\nYou can get housing as long as you don't default on your payment plan.  However, the waiting list is longer for a soldier trying to re-enter housing as he is not considered a high priority.
779400
It's best to have two or three banks in which will give you a construction loans on each house your building.  The construction loan should cover the cost of the land and 80% of the value of the home.  I hope that you already have your sub-contractors set up and ready to go, each sub will have to sign lien-wavier forms and you will supply that to the bank.  It's a lot of work but can be rewarding.  Good luck to you.
1020640
I am a mortgage banker and filling out a non-filed 1040 will get you into deep trouble in the area of fraud.  At closing you sign a form which is called a 4506 that gives the mortgage holder authorization to pull for filed taxes.  So that being said, file the back taxes and keep your copy.  I do several VA mortgage loans and have found that being up front with your banker will get you an approval a lot quicker.  Your problem is not unusual