VA Construction Loans - Q & A with a VA Lender

Рет қаралды 6,034

Shane Burgman | Brevard County Realtor

Күн бұрын

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/Shaneburgman
• / 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

Пікірлер: 26

@PA96704 10 ай бұрын

Finding the Lender is the hardest part.

@richardbigouette3651 10 ай бұрын

Did you already own the land, or did you buy it out of pocket first?

@PA96704 10 ай бұрын

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

@kyesims2426 5 ай бұрын

Currently is my struggle right now!

@joelharrington9750 3 ай бұрын

@@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

@latonyasaffor152 Жыл бұрын

Best simple explanation! I totally get it now... thanks for your help and support!

@SpaceCoastShane Жыл бұрын

Glad it helped!

@williechain6747 3 ай бұрын

Burgman! Look at you, showing up organically during my KZfaq search. I was like "Wait, I know him!" such a celebrity 😏😏

@SpaceCoastShane 3 ай бұрын

My man! Thanks brother

@jaycollins2929 10 ай бұрын

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.

@2023Red 6 ай бұрын

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

@SpaceCoastShane 6 ай бұрын

Shoot me an email so I can provide you with more info: shane@carpenterkessel.com

@Eric-cn1me 11 ай бұрын

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.

@SpaceCoastShane 11 ай бұрын

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

@Eric-cn1me 11 ай бұрын

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

@johnadams247 6 ай бұрын

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?

@SpaceCoastShane 6 ай бұрын

Depends on the builder and if they can get approved.

@MistiMist 2 ай бұрын

I couldn't find anyyy information on an "end loan"... Anyone got any information on this?

@marcialperezjr9530 2 ай бұрын

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?

@SpaceCoastShane 2 ай бұрын

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