I've saved up $35k over a few years to eventually build a house. My goal is to save up $45k. I am a veteran and I am on VA 'disability compensation' (who knew the AF would pay you for losing a finger?!). I live in Missouri and want to build here.
I understand there is really no way to get a VA construction loan since so few legitimate lenders even do them. Is there any VA benefit that could be helpful in building a house? Any tips/tricks from fellow builders?
EDIT: Some personal info. I have a 802 credit score and I earn about $80k a year, VA compensation included. Home ownership feels out of reach, honestly, but I'm not deterred.
Wanting to build a house…
byu/Zesty_hooman12 inMilitaryFinance
Posted by Zesty_hooman12
1 Comment
Just with a cursory google search I don’t see a huge process. Just add a step to verify the builder is certified with the VA. Your savings could be used for closing costs/points etc.
https://www.benefits.va.gov/homeloans/appraiser_cv.asp