You or your builder will provide the construction plans to the lender. The VA maintains a list of its approved home builders on its website. These can usually be obtained within a matter of days. The VA doesn’t approve home builders, but they do require them to register with the department and obtain what’s known as a VA Builder ID. That means providing the same kind of income, employment and financial information you would for a traditional VA purchase loan. If you find a trustworthy lender offering these loans, then you’ll work with them to close the loan before construction starts. We’ll explore other ways to use your VA loan benefit to build a home in the next section.Ĭredit score requirements, interest rates and other variables can and often will vary among lenders. Many VA lenders do not offer financing for new construction.
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