We were told by many lenders that the VA does not have a construction loan program. However, thanks to a diligent realtor, we learned that isn't the case. It is difficult to find a lender that knows how to process VA Construction Loans, but there are lenders out there that know how to do it. We found a lender experienced in how to process VA Construction Loans and we built our new construction custom home in Texas using the VA Construction Loan Program. We used Thrive Mortgage, based in Austin, TX and we chose to do the two-time close process. We hope that this information helps other veterans and their families build their dream home!
Here are the resources that give a detailed description of the VA Construction Loan Program.
VA Circular 26-18-7
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VA Buyer's Guide
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VA Lender's Handbook - Chapter 17
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