Welcome to Construction Loans Guide
Financing Construction Loans Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
VA Construction Loans: Help for Veterans
from:When you first hear of VA construction loans, you may assume that it means construction loans in Virginia. That actually isn't the case. VA construction loans are quite a bit different. Instead of being about a state, it is meant for veterans of war. VA loans were originally put into favor with the GI Bill or Rights that president Franklin D. Roosevelt started. This bill of rights helps people who served in a war so that they get extra privileges. It is seen as a thank you for all of the great service that they did in the war.
The biggest difference between VA construction loans and regular construction loans is the down payment. Most people have to pay a hefty down payment when they apply for a construction loan. This is usually either three or five percent of the full loan amount. VA loans are different because they allow the veteran to get a loan without having to pay a down payment. This can open up a lot more chances to build your own home. After all, not everyone has the kind of money to be able to afford a down payment. These VA loans help by eliminating this for people who served in the war.
There are some restrictions when it comes to VA construction loans, though. You can't just be in the army and expect to reap the benefits of this loan. For example, you need to have served in active duty. You can't have a dishonorable discharge under your name. You also need to have served for 90 days in wartime or 181 consecutive days in peacetime. There are many other requirements in order for you to be eligible for this benefit. If you are considering VA construction loans, you should contact a lending company that offers it. They will be able to run you through all of the qualifications to determine if you can take advantage of this offer.
These VA loans are very helpful for people who qualify. It helps them buy their own home or build their own home where they may not have been able to otherwise. This is just one of the many ways that the government has stepped up to make life better for people who have served their country in any one of the many wars that have happened in recent years.
If you were in the army, you should definitely look into getting VA construction loans. They are very helpful and will give you a much bigger chance of owning your own home for the first time.
Financing Construction Loans Specific links
Financing Construction Loans News
Home Sales Jump – Arizona State Credit Union Ready with New Loans
Arizona State Credit Union added construction loans to its home loan portfolio in anticipation of an improving economy, as evidenced by the 27 percent growth of new home sales in M
Read more...Huge Lake Norman development wins financing
MOORESVILLE, N.C. -- The long-planned $2 billion Langtree at the Lake mixed-use community on Lake Norman will immediately begin construction of its first 300 luxury apartments and 47,000 square feet of retail space, Ohio developer R.L. West Properties announced Friday. The announcement came after R.L. West’s Langtree Development Co. secured $41 million in financing to start the project at ...
Read more...Commercial Loans Firm Actively Seeking Financing Opportunities for Industrial Real Estate Properties Nationwide.
Commercial Loans Firm Actively Seeking Financing Opportunities for Industrial Real Estate Properties Nationwide. Clopton Capital, a secondary market commercial real estate lender which provides commercial loans for income producing properties nationwide, is announcing the expansion and addition of loan options for owners and operators of industrial properties nationwide. Clopton Capital, a ...
Read more...Commercial Real Estate Loans Firm Actively Seeking Financing Opportunities for Retail Properties and Shopping Malls ...
Commercial Real Estate Loans Firm Actively Seeking Financing Opportunities for Retail Properties and Shopping Malls Nationwide. Clopton Capital, a secondary market commercial real estate lender which provides commercial loans for income producing properties nationwide, is announcing the expansion and addition of loan options for owners and operators of retail properties nationwide. Clopton ...
Read more...Langtree closes on loan, will begin construction
Developers of Langtree at the Lake say they have closed on a federally-backed financing package that will allow construction to begin immediately on the proposed apartment/retail project.Citizen Center as collateral.
Read more...