Suffolk, VAVA new construction
Turned away by the builder’s lender
A Navy family on PCS orders from Chicago. “No” from one lender didn’t mean no everywhere.
Brand-new build
Home › Loan options › VA one-time close construction
Build your home with your VA benefit — and close only once
Buy the land and finance construction in a single closing — with participating lenders, no payments for up to 11 months while the home is built.
1closing for land, build and loan
$0down payment for eligible veterans
11 monthsno payments while you build*
For eligible borrowers. Programs, terms and availability vary by lender and can change — ask Craig for current details. *Up to 11 months, with participating lenders. Craig Scott is not affiliated with the Department of Veterans Affairs.
Who it fits
- Veterans who want a custom home instead of what is on the market
- Buyers who found land and a builder
- Families planning a longer stay
Good to know
- Your rate is locked once and rolls straight into the permanent VA mortgage when the home is complete.
- The builder has to be approved by the lender, so choose your builder with Craig early.
- No double closing costs and no re-qualifying halfway through the build.
How it works
From first call to keys
Talk to Craig
A 15-minute call about your goals, timeline and budget. No credit pull, no pressure — just straight answers.
Get pre-approved
Apply online in about ten minutes. Craig compares lenders and programs and sends you a pre-approval you can shop with.
Close on time
Craig keeps you, your agent and title in the loop every week, and gets you to the closing table — often in 21 days or less.
Closed with Craig
Recent closings like yours
Real loans Craig closed — what the buyer needed and how it came together.
Suffolk, VA
Los Fresnos, TXVA one-time close
$1.2M land + custom build, one closing
A couple of acres, the construction and the permanent loan in a single VA closing — no payments for up to 11 months while the home is built.
One closing
Fort Worth, TXVA purchase
$25,000 in equity on day one
The builder’s in-house lender couldn’t read active-duty and reservist pay. We could — and secured full builder concessions.
Just over 3 weeksBuyer’s agent @quentin.dfwrealtor
Payment calculator
Estimate your monthly payment
Estimated monthly payment
$0/mo
- Principal & interest
- Property tax
- Insurance
- Mortgage insurance
- Loan amount
Illustration only — not a quote. VA shows the funding fee financed (2.15% first use) and no monthly MI; FHA uses 1.75% upfront and 0.55% annual MIP; conventional MI is estimated at 0.5%/yr under 20% down. Ask Craig for real numbers on your scenario.
FAQ
VA one-time close construction: common questions
Do I need to own the land already?
No. The land purchase can be part of the same loan.
What happens if the build runs late?
Lenders set a construction window; Craig plans the timeline with you and the builder before you sign.
Is there a loan limit?
Veterans with full entitlement have no VA loan limit, subject to the lender’s guidelines — Craig recently closed a $1.2M VA construction loan.
How long does it take to close?
Most loans close in about 21–30 days. Some of Craig’s recent clients closed a purchase in 9 days and a refinance in 4 days when the file was ready — every file is different.
How much do I need for a down payment?
It depends on the program. VA, USDA and physician loans can be zero down for eligible borrowers, FHA starts at 3.5%, and some conventional programs start at 3% — or 1% with lender-paid assistance for income-qualified buyers. Down payment assistance can cover part or all of it.
Compare
All loan optionsOther options worth a look
VA loans$0 down, no PMI and limits on closing costs for veterans, active-duty service members and eligible surviving spouses.
FHA loansGovernment-backed loans with 3.5% down and more flexible credit and income guidelines.
USDA loansZero down payment for homes in eligible rural and suburban areas — often closer to the city than people think.
Need a human touch?
Craig picks up.
Call, text or book 15 minutes. You will talk to Craig — not a call centre.