Can I buy land and build a home with the same VA loan?
Yes. A VA One-Time Close construction loan can combine the purchase of your land and the construction of your home into a single loan. You don't have to own land before starting the conversation.
Instead of arranging separate land, construction, and permanent loans, you close once. Funds are released to your builder as construction progresses, subject to the lender's draw requirements and photo verification of the completed work. When the home is complete and the loan's requirements are met, it transitions into your permanent VA mortgage.
Already own land? Your project may include paying off an existing land loan, and any land equity will be evaluated as part of your financing.
Am I required to make a down payment?
Eligible veterans may qualify for a VA construction loan with no down payment, including when purchasing land and financing the build together.*
No down payment does not necessarily mean no out-of-pocket expenses. Closing costs, deposits, and other project expenses may apply. Your eligibility, available VA entitlement, and the details of your project determine what's possible.
We'll review those details with you so you understand the financing and any money you may need before moving forward.
VA construction experience matters, especially when it comes to the appraisal
I've spent 21 years in mortgage lending, with the past five focused exclusively on VA construction. I've closed more than 100 VA construction loans, and that experience has taught me how much a project can depend on understanding the appraisal process.
When you're buying land and building a home, you may spend months, or even a year, bringing your plans together. If the appraised value comes in below what the project needs, there often isn't a home seller who can simply agree to a lower price.
That's where experience with comparable sales matters. If the VA appraiser signals a potential shortfall through the Tidewater process, I understand how to identify and submit relevant comparable sales for consideration. If the completed appraisal still presents a value issue, I know how to help the veteran evaluate and prepare a Reconsideration of Value request through the VA.
Neither process guarantees a higher value. But knowing how to use them, and how to support a request with relevant evidence, can make a meaningful difference in whether a project can move forward.
For a veteran building in Pender County, that's the experience I bring to the table.
Pender County projects: land and construction financed together
These completed Pender County projects show how veterans can purchase their land and finance their home's construction through a VA One-Time Close loan. In each case shown with a builder contact, the veteran bought the land and financed the build in the same transaction. Builder listings are for reference only and are not an endorsement or a representation about workmanship.
Whether you're considering a project in Hampstead, Burgaw, Rocky Point, or elsewhere in Pender County, we can discuss your land, your builder, and your financing options.
What if I already have a builder?
Bring your builder into the conversation early. Your builder will need to meet the lender's construction program requirements before closing.
We work with your builder through that process and help coordinate the financing requirements with the plans, specifications, and construction budget.
If you haven't selected a builder, you can also explore our Builder List as a starting point.
What should I consider before buying land in Pender County?
The right lot needs to work for both your home plans and your financing. Before committing to land, consider access, utilities, septic or sewer availability, and any site preparation the project may require.
For coastal and low-lying properties, flood-zone requirements, elevation, and insurance can also affect the project's cost and feasibility.
If you're still shopping for land, start the financing conversation early so you can better understand how the lot and the build fit into your overall budget.
Common questions about VA construction loans in Pender County
Do I need to own land before applying?
No. A VA One-Time Close loan can finance an eligible land purchase and home construction together. You can start the conversation while you're still looking for land.
Can I use land I already own?
Yes. Land you already own can be part of the project. If there's an existing land loan, it may be paid off through the construction financing, subject to the lender's requirements.
Does a VA construction loan require a down payment?
Eligible borrowers may qualify with no down payment. Your VA entitlement, qualification, and project details affect the requirements. Other costs and fees may apply.*
What happens if the appraisal comes in low?
We review the appraisal issue and the available options. Depending on the stage of the appraisal process, that may include submitting relevant comparable sales during Tidewater or helping you evaluate and prepare a Reconsideration of Value request through the VA. A value increase is not guaranteed.
What if I decide to buy an existing home instead?
I can help with that, too. If your plans change from building a home to purchasing an existing one, I'm happy to help you explore a VA purchase loan.
* Please do due diligence when calling a builder. VA loans are subject to qualification, available entitlement, lender approval, and property and project requirements. No down payment is available to eligible borrowers and may not apply in all cases. Closing costs and other fees may apply. Appraisal outcomes and loan approval are not guaranteed.
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