Most loan officers say it’s very difficult to do and leave it at that to push for someone to purchase a resale home convenience service. We need to do better for our vets, thanks for leading the charge Josh. 🤘
I own my own property and cannot find a lender for new construction. I almost dave up and bout an existing house yesterday. They want to push you not to build. I need help finding a loan company in Indiana. TY
What is the best way to structure an IUL? What options should one choose to accumulate cash value quickly? How should one structure their policy so it doesn’t become a MEC?
Currently in the process of a land and build loan, going through a private company and the VA home loan told us that when near 100 near build completion we can refi through the VA home loan.
You can do the land and construction on day one. Sounds like what you’re doing is not a VA loan, hence why you said you would be refinancing. There are a lot of lenders who don’t offer VA construction and try to talk veterans out of it towards the route you’re going.
Do you have to have blueprints and a contract bid from the builder prior to purchasing the land? It’s that way in a traditional construction loan. Meaning: you apply for the loan after you have sat down with the architect and builder and a number has been quoted.
You can apply before to get an idea of budget and before owning or locating land. I would advise doing so to get a good idea of what your options are and build a game plan.
If you are planning on selling your current primary residence and moving to the new construction as your new primary residence: Can you put the proceeds from that sale down at the end of the build even though you closed 12 months earlier. Or do you have to refinance to put additional money down?
@CrissyMack yup, we did a video on that last month too. Only problem is there isn’t anyone I know that is allowing it on the lending side at the moment. This could change in the near future but we’ll see what happens.
Would this still work if I say already owned the land and wanted to build a tiny house to replace my aging one? I'm a 80% diabled vet in Texas and wanted to see even which loan if any I could use to facilitate the building of the tiny house on my property to replace my modular home.
In some cases yes it is. Especially if what you’re looking for in your next home isn’t as easy to find without sacrificing things you think or necessary. I think the part that goes unnoticed is the time that goes into.
18 months is the timeline? I thought it was 12 months? Has that changed recently? Also what starts the clock? I have a builder who won't use the Va loan because they say the 12 month time limit is too short and they believe they will be responsible for payments if the house isn't finished on time . Is the at true?
Also what would be the title seasoning period for a Veteran after closing - we literally rehabbing upfront to prepare to sell to vets through private investors. It's just not fast enough for most needs.
I’m a military reservist about to hit 6 years in the reserves. I know I am eligible for va loan once I past my 6 year mark in 2 weeks but does this apply for the va construction loan? Also, I am getting deployed in less than 6 months…. Houses are crazy expensive in California and I think using this type of loan is the only way to go about it even though it takes longer. Also, I love the Bible quotes at the description. I will definitely look into this.
Great question. VA loan specialists are the specific individual. It’s not really about the company. Me and my team focus 100% of our effort on VA loans ONLY and that has been our focus for nearly 8 years now.
How do we find a lender that will finance a Va construction loan? Our realtor doesn’t know of one but we just started working with a broker. He was trying to push us to buy vs build and every lender we have called won’t finance us. We’ve gotten a pre qualification through our broker but I’m worried he won’t find someone to finance it as it seemed he was trying to talk us out of it. We’ve found a lot and a builder
2 years ago i bought my home with a VA loan. My inlaws are selling us land. Can i still look into the VA one time loan while owning this house, or do I need to sell this house in order to go for it?
That depends. If you keep your home, you'll have to use whats called second tier entitlement to buy the next one. If you have enough entitlement then you could buy it at 100% financing. If you don't there will be a down payment for whatever exceeds your entitlement. I have an entire video explaining second tier entitlement here: ruclips.net/video/w23M6hHYCB8/видео.html
If that’s how you obtain the land that’s fine. As long as when you’re doing the VA Construction Loan all other forms of financing are paid in full and freed from the deed because the first and only lien must be the VA loan at that point.
@@thisisruiz6935 VA guidelines require occupancy to be satisfied for at least 1 year on the property you already purchased. If you have hit that point, then with the information you’ve given I think yes this should work.
Great question. If paid off, you would only finance the construction. If its not paid off then you would combine the balance owed from the land with the construction cost.
None of this information matters. To build a nice quality home nowadays it's gonna be upward of 500,000 dollars. And that's kind of mid ground and you could very easily pay even more. This is because building material is sooooo expensive that a regular home now cost so much money to where your mortgage is ridiculous.
This couldn't be further from the truth. We just had a veteran less than 1 week ago doing the VA One-Time Close at no where near the amount you're claiming is needed. We have several others who are doing the same thing at much less as well.
That's not true at all?? A standard 2000sq/ft home costs around 300,000 and this includes the cost of the architect. In Colorado where I create invoices for clients of a contracting company, I know the numbers for what kind of home well and 500,000 would get you at LEAST a 3800sq/ft home. Building a home isn't as expensive as buying one that has had no upgrades since 1999. You're spreading misinformation for what???
I tried with 10 different lenders and I have a 780 credit score and they all told me no, my land was free and clear, I think it was because I am a disabled vet, Veterns United was the first one who told me no@@valoantips
Thats because not all lenders do it. It is the lenders choice as to whether or not they want to offer it. If a lender didn't do something, its very unlikely they're going to tell you someone else does.
What is a barndonimium in thought VA dont fund barn type homes …. I have a garage type home on a land that i want to buy .. half completed … can i get a va loan on this ? If so whats please provide your phone number i need to buy this property and the land it sits on ASAP
Most loan officers say it’s very difficult to do and leave it at that to push for someone to purchase a resale home convenience service. We need to do better for our vets, thanks for leading the charge Josh. 🤘
Thank you for saying that Danny! I agree. We need to be better and more transparent about the process.
@Gassseduptv187 otherwise I buy a house with a va loan.
This is such a well put and informative video! Surprised it doesn’t have more views. Definitely hit the like button.
Thank you for watching and for your kind words. I appreciate it. 🙏
This video is the most informative video I’ve seen.
Thank you for watching! I’m glad this helped.
Great video! Thank you for teaching veterans how to use their VA loan for their dream home! 🎉
Thank you for watching and for your support! 🙏
Omg thank you for this video. I was beginning to lose hope that I wouldn't find a lender that does this.
Glad I could help!
Fantastic information thank you for doing it
Thank you for your commenting. I hope this video was helpful.
Thank you so much for all the information! We just decided to build in Florida and we had no idea where to start!
That’s awesome. If you need any help from us please reach out.
Can this loan be used to build a multi Family property like a 4Plex?
Very informative and enjoyable video man!
I’m glad you liked it. Yes it can be used for multi family.
Great video, definitely interested in getting some more info from you guys about this process
Thank you! I’m glad you liked it. For more info check out our website or click the link in the description to schedule a discovery call.
I own my own property and cannot find a lender for new construction. I almost dave up and bout an existing house yesterday. They want to push you not to build. I need help finding a loan company in Indiana. TY
Reach out to us. We are happy to help. If you click the link in the description you can schedule a call and we’ll walk you through the process.
What is the best way to structure an IUL? What options should one choose to accumulate cash value quickly? How should one structure their policy so it doesn’t become a MEC?
Thanks for watching. I would recommend talking to a financial planner.
Currently in the process of a land and build loan, going through a private company and the VA home loan told us that when near 100 near build completion we can refi through the VA home loan.
You can do the land and construction on day one. Sounds like what you’re doing is not a VA loan, hence why you said you would be refinancing. There are a lot of lenders who don’t offer VA construction and try to talk veterans out of it towards the route you’re going.
My man thank you for the information
Happy to help! I hope you found value in the video. If you need anything please don’t hesitate to reach out.
Wow interesting video my man
Thanks for watching. I hope it helped in someway!
Do you have to have blueprints and a contract bid from the builder prior to purchasing the land? It’s that way in a traditional construction loan. Meaning: you apply for the loan after you have sat down with the architect and builder and a number has been quoted.
You can apply before to get an idea of budget and before owning or locating land. I would advise doing so to get a good idea of what your options are and build a game plan.
I’d love to talk to you guys more about this information.
Looking forward to chatting with you!
Hello Joshua, do you have a VA construction loan specialist connection in WA, specially in Seattle? Same with construction team too?
I don’t have a specific builder there but the lending team I do.
Are you able to receive down payment and closing cost assistance when building a home? Or is that just for purchasing?
No that’s not an option with VA One-Time Close
If you are planning on selling your current primary residence and moving to the new construction as your new primary residence: Can you put the proceeds from that sale down at the end of the build even though you closed 12 months earlier. Or do you have to refinance to put additional money down?
Great question. You would have to sell prior to in order to put a down payment if you did a refinance later it would prove to be more costly.
Great video! What if I am a veteran that works for a homebuilder and wants to GC my own build. Would this loan allow that?
Great question. This would not be possible though.
They say it's a liability if the owner builds, but you can still hire people you know. Its important to have them bonded/insured.
@@klown20the update that came out last month says the veteran can be the builder.
@CrissyMack yup, we did a video on that last month too. Only problem is there isn’t anyone I know that is allowing it on the lending side at the moment. This could change in the near future but we’ll see what happens.
Would this still work if I say already owned the land and wanted to build a tiny house to replace my aging one? I'm a 80% diabled vet in Texas and wanted to see even which loan if any I could use to facilitate the building of the tiny house on my property to replace my modular home.
Yes you could do the VA One-Time Close on land you already own.
Thank you brother
Happy to help!
Is the closing cost due at closing when the home is done or once the funds to start building are available?
Great question. Closing costs would be due when the loan funds.
Is it normally cheaper to build? I was just thinking about this.
In some cases yes it is. Especially if what you’re looking for in your next home isn’t as easy to find without sacrificing things you think or necessary. I think the part that goes unnoticed is the time that goes into.
18 months is the timeline? I thought it was 12 months? Has that changed recently? Also what starts the clock? I have a builder who won't use the Va loan because they say the 12 month time limit is too short and they believe they will be responsible for payments if the house isn't finished on time . Is the at true?
It’s a 12 month timeline with the ability of extend if needed on a month to month basis up to a maximum of 18 months.
Did you have VA expert in Orlando Florida to help me with the process?
I have a several people on my team licensed in Florida.
Also what would be the title seasoning period for a Veteran after closing - we literally rehabbing upfront to prepare to sell to vets through private investors. It's just not fast enough for most needs.
Just to make sure I understand the question, are you asking if there is a seasoning period like on FHA loans when there is a rehab or flip done?
Can this be used to expand a current home w/land being purchased? Or is that a home Purchase Renovation Loan?
We can do renovation loan.
I’m a military reservist about to hit 6 years in the reserves. I know I am eligible for va loan once I past my 6 year mark in 2 weeks but does this apply for the va construction loan? Also, I am getting deployed in less than 6 months…. Houses are crazy expensive in California and I think using this type of loan is the only way to go about it even though it takes longer. Also, I love the Bible quotes at the description. I will definitely look into this.
Yes this applies for va construction and any other type of va loan.
Are Modular Home builds, eligible? I'm thinking of building a Luxury/Pre Fab, 2-story Modular home placed on my choice of l and? Thank you
It would have to be fixed to a permanent foundation and immovable.
Who are the va loan specialists? The lender? Someone who works for the VA?
Great question. VA loan specialists are the specific individual. It’s not really about the company. Me and my team focus 100% of our effort on VA loans ONLY and that has been our focus for nearly 8 years now.
How do we find a lender that will finance a Va construction loan? Our realtor doesn’t know of one but we just started working with a broker. He was trying to push us to buy vs build and every lender we have called won’t finance us. We’ve gotten a pre qualification through our broker but I’m worried he won’t find someone to finance it as it seemed he was trying to talk us out of it. We’ve found a lot and a builder
Me and my team finance VA construction loans. We are happy to help.
2 years ago i bought my home with a VA loan.
My inlaws are selling us land.
Can i still look into the VA one time loan while owning this house, or do I need to sell this house in order to go for it?
That depends.
If you keep your home, you'll have to use whats called second tier entitlement to buy the next one. If you have enough entitlement then you could buy it at 100% financing. If you don't there will be a down payment for whatever exceeds your entitlement. I have an entire video explaining second tier entitlement here: ruclips.net/video/w23M6hHYCB8/видео.html
will the VA work with you if you do a Land contract or do owner financing?
If that’s how you obtain the land that’s fine. As long as when you’re doing the VA Construction Loan all other forms of financing are paid in full and freed from the deed because the first and only lien must be the VA loan at that point.
If I recently purchased a home using my VA loan. Would I still qualify to do the VA one time loan if I have the funds in hand.
Can you give me some more context on the "funds in hand" part?
@@valoantips Funds in hand meaning I have a large portion of the cash already. Would only need a small loan.
@@thisisruiz6935 VA guidelines require occupancy to be satisfied for at least 1 year on the property you already purchased. If you have hit that point, then with the information you’ve given I think yes this should work.
can you just tell us lenders to reach out too. Because at this point it seems like its a secret or not legit
My team services all 50 states. If you'd like some help with this give us a call. We're happy to help.
Do you have any connections for vA loan experts in San Diego. Temecula area.
Yes I do. Give me a call, I’m happy to help.
What if you already own land?
Great question. If paid off, you would only finance the construction. If its not paid off then you would combine the balance owed from the land with the construction cost.
Can a veteran build a house on land they own with family members?
If the family member is okay with ownership being transferred to the veteran.
Does anyone have any lenders in Illinois for this? Looking to do this very soon!!
Me and my team service all 50 states. Whenever you’re ready reach out to us. We’re happy to help.
@@valoantips can you send me contact info?
Does anyone have any loan companies that specialize in this? Thank you
I do.
None of this information matters. To build a nice quality home nowadays it's gonna be upward of 500,000 dollars. And that's kind of mid ground and you could very easily pay even more. This is because building material is sooooo expensive that a regular home now cost so much money to where your mortgage is ridiculous.
This couldn't be further from the truth. We just had a veteran less than 1 week ago doing the VA One-Time Close at no where near the amount you're claiming is needed. We have several others who are doing the same thing at much less as well.
That's not true at all?? A standard 2000sq/ft home costs around 300,000 and this includes the cost of the architect. In Colorado where I create invoices for clients of a contracting company, I know the numbers for what kind of home well and 500,000 would get you at LEAST a 3800sq/ft home. Building a home isn't as expensive as buying one that has had no upgrades since 1999. You're spreading misinformation for what???
@@valoantipsWhat’s their average, boss? Thanks for the info.
I could buy 30 acres and build a custom home where I live for 400k
@@Roaddog223 At the end of the day, you’ll still be living in the dumpster fire you call the United States. God bless.
no VA does not do construction loans
That is inaccurate, the VA does allow the VA One Time Close which essentially is a construction loan for VA Loans as mentioned in the video.
I tried with 10 different lenders and I have a 780 credit score and they all told me no, my land was free and clear, I think it was because I am a disabled vet, Veterns United was the first one who told me no@@valoantips
Thats because not all lenders do it. It is the lenders choice as to whether or not they want to offer it. If a lender didn't do something, its very unlikely they're going to tell you someone else does.
Please send me a copy of your book
The ebook can be downloaded by clicking on the link in the description.
What is a barndonimium in thought VA dont fund barn type homes …. I have a garage type home on a land that i want to buy .. half completed … can i get a va loan on this ? If so whats please provide your phone number i need to buy this property and the land it sits on ASAP
Hi do you have email
Josh@HomeByJosh.com