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VA Construction Loan Estimator

What will it cost to build your home?

This calculator estimates your Total Acquisition Cost, the full number your loan is built on: land, construction, contingency, interest reserve, and draw fees. Closing costs are separate and are not included here.

1Property & Land

$
Leave at 0 if you already own your land free and clear.
$
If your land has a loan on it, the payoff rolls into the new loan.
$
Optional. Most eligible veterans finance 100%.

2Construction

$
The turnkey price from your builder.
$
Disbursed to your builder about one week after closing. Capped at 10%.
$
Credit from your builder toward closing costs, if applicable.

3Loan Terms

%
Enter your own rate. We do not quote rates online. Your actual rate depends on your credit profile and a completed application.
Estimated Loan Amount
-

Total Acquisition Cost

Tap the ? on any line to see what it means.
Enter your numbers above and the breakdown builds here as you type.
Land Purchase Price
$0
This is how much it costs to purchase your plot of land. The land cost is rolled into one VA guaranteed loan.
Land Loan Payoff
$0
If you already own your land and have a loan on it, this amount pays off that balance at closing. The payoff is rolled into your single VA construction loan.
Cost of Construction
$0
The total your builder charges to build the home per the construction contract: labor, materials, subs, permits, overhead, and builder profit.
Builder Contingency (5%)
$0
5% of construction cost, set aside for unexpected costs or overruns during the build. If it is not used, the unused amount is applied as a principal reduction at the end of construction. You do not get it back as cash, it reduces what you owe.
Interest Reserve
$0
Instead of you making monthly interest payments during the build, the projected construction interest is built into the budget and set aside at closing. It covers interest automatically as it accrues. If the build finishes early, unused funds apply as a principal reduction. If the build runs long and the reserve is exhausted, you make the monthly interest payments.
Construction Draw Fees
$0
Each time the builder requests a draw, the lender processes and administers the disbursement. This fee covers the review and processing required to release each draw to your builder.
VA Inspection Draw Fees
$0
Each time the builder requests a draw, the lender's inspection partner reviews the builder's job site photos to confirm the completed work matches the approved plans before funds are released. This fee covers those reviews.
Builder Credit
$0
The VA does not allow closing costs to be rolled into the loan directly. To cover them, the builder's contract price is increased by the credit amount. The builder nets the same, and your closing costs are covered within the loan.
Total Acquisition Cost$0
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Estimates only. This is not a loan offer, approval, or commitment to lend. Interest reserve and fees are estimates based on the figures you enter, including an interest rate you choose. Actual loan terms, fees, and structure depend on qualification, appraisal, entitlement, and program guidelines at the time of application. NoSo Funding LLC, NMLS #1838270.

Loan Amount
-
Total Acquisition
$0
Tap to view breakdown