Video není dostupné.
Omlouváme se.
VA Construction Loans - Q & A with a VA Lender
Vložit
- čas přidán 14. 08. 2024
- In this video, Prent Sanger gives us overview of the VA loan process, discusses different loan types (like "Construction-to-Permanent" and "End Loans"), and we do some Q&A of common questions.
Prentice Sanger is a Senior Loan Advisor at Certified Mortgage Planners, here in Florida.
If you have any questions, drop them in the comments!
And if you live in Florida, please reach out to Prent for your lending needs.
Prent@cmpfl.com
Connect with me on my other channels:
• Shaneburgman.com
• linktr.ee/Shan...
• / shaneburgman
• / shaneburgman
Timestamps:
0:00 - Introduction
0:18 - Overview & Process - VA Construction Loan
3:40 - "What if I own the land I'm building on?"
5:22 - Fees & Distributions
6:59 - Escrow?
7:28 - "End Loans"
9:31 - Q & A
10:39 - Prent's Advice
Finding the Lender is the hardest part.
Did you already own the land, or did you buy it out of pocket first?
I own my land free and clear, it's graded with a septic installed. Just looking for someone to finance my house is hard. My land is worth $175,000.@@richardbigouette3651
Currently is my struggle right now!
@@kyesims2426 I work at a mortgage brokerage and I have a lender that offers this! Let me know if you’re interested and we can get in touch
Best simple explanation! I totally get it now... thanks for your help and support!
Glad it helped!
Burgman! Look at you, showing up organically during my CZcams search. I was like "Wait, I know him!" such a celebrity 😏😏
My man! Thanks brother
Hello there I have a question if speaking to a lender how do we know that the VA can be applied to a construction loan the reason I asked that question I call my local bank and they will only cover me to 85% and are not able to tie the VA loan into the perm.
I couldn't find anyyy information on an "end loan"... Anyone got any information on this?
I would like to know more on VA Construction Loan, either END or Perm. Specifics, 1. We have excellent FICO scores above 800. But we also have an existing VA home loan we want to keep. Does having an existing loan, currently under 300k, matter? 2. We have been considering The Villages area. Or, Land of Lakes. Do these areas qualify? 3. Does being 100% Permanent and Total VA disability matter for your programs? Thanks. Robert
Shoot me an email so I can provide you with more info: shane@carpenterkessel.com
Do the floorplans have to be stamped by an architect, (approximately 5k) or can I use floorplans from a draftsman ( approximately $500) as long as the builder is licensed?
Depends on the builder and if they can get approved.
I currently own a home using the VA loan and I have it out for rent at the moment. I want to get another house with my second entitlement because I still have remaining eligibility. Can I use a VA construction loan for that second home?
This is a great question! There’s some more information we need to determine this, so if you’ll send me an email, I’ll be able to make sure to get precise answers for you.
Shane@theburgmangroup.com
I’m a veteran in the process of using the VA construction to perm loan in Georgia for a custom home build. I’m already pre approved, have building plans, land & I have a certified VA builder. So far as for builders deposit who pays their deposits? Will the bank cover the builders deposit? To my understanding the veteran pays nothing out of pocket except closing costs. Your feedback would be greatly appreciated.
First of all, congrats! Secondly, this really varies depending on the builder.
There was a time where the veteran would pay minimal draws for the construction process, but I think most builders have changed that.
Locally, our builders do with a call as “draws” or percentages of the down payment throughout the progress of the construction.
Ultimately, you will need to ask the builder what their process is and how they work with veterans.
Please keep me up-to-date on this! I’d love to hear more about your journey
Thank you for your response, I will keep you informed about my journey. Are you able create a video about the appraisal process for custom construction? The appraisal process makes me nervous just a little.@@SpaceCoastShane
Does the loan also include land clearing?
It should as that would be a builder expense.
Anyone know any lenders Va construction in Illinois? Thank you. 🙏🏼
Shoot me an email and I’ll connect you.
Shane@theburgmangroup.com
What's an end loan? Can I get some information on this please?
Shoot me an email and I’ll get you connected with my go-to VA lender.
Shane@theburgmangroup.com
He lost me when he said VA loans require buyers to pay closing costs
Why?