HELPING VETERANS THROUGHOUT FLORIDA WITH VA LOANS

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Florida Veterans can finance the construction of a new home using a VA one time close construction loan. This allows you to combine land purchase or lot payoff and construction costs into one loan and one closing. Structured correctly from the beginning, this program eliminates the need for multiple loans and simplifies the building process.

About VA Construction Loan

What is a VA One-Time Close Construction Loan?

A VA one time close construction loan allows eligible Veterans to finance both land and construction with a single loan.

  • One loan and one closing
  • Finance land purchase or use land you already own
  • Builder managed draw process during construction
  • Automatic conversion into permanent VA financing once complete

This structure reduces complexity and avoids double closings.

Guidelines

Florida-Specific Guidelines

Permits

Approved Florida building permits must be in place prior to final loan approval when land is already owned.

Eligible Properties

Single family homes, modular homes, and certain barndominiums may qualify subject to VA appraisal standards.

Builder Approval

All builders must complete the lender builder acceptance process prior to closing. Proper vetting protects the borrower and ensures compliance.

Benefits

Benefits of a VA Construction Loan in Florida

  • No down payment with up to 100 percent financing on eligible loan amounts.
  • No monthly private mortgage insurance.
  • One-time close structure eliminates separate land and construction loans.
  • Flexible property types including modular homes subject to VA approval.
  • Potential float down option if rates improve prior to conversion, subject to program guidelines.
  • The primary advantage is strategic structuring from day one.

Process

How the Process Works

Pre-Approval

Complete full VA construction loan pre approval including income, credit, and entitlement review.

Builder Approval

Builder completes lender acceptance process.

Plans and Specs

Submit finalized plans, budget, and lot documentation for appraisal review.

One Closing

Close once on both land and construction.

Construction Phase

Funds are disbursed in draws as construction progresses.

Conversion

Upon completion, the loan converts into permanent VA financing.

Specialist

VA Loan Specialist Shirley Mueller!

Working as a loan originator since 2003, Shirley has helped over 2000 Veterans with VA Home Loans. She has helped Veterans in almost every situation, including deployed personnel returning home or those with PCS orders. Shirley also helps disabled Veterans who…

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Start Your Florida VA Construction Loan Application

Begin your secure online application to start the VA construction loan approval process. Applications are encrypted and reviewed promptly to structure your VA loan correctly.

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Questions

Frequently Asked Questions About VA Construction Loans

Can I use my VA loan to buy land and build at the same time?

Yes. With the VA One-Time Close loan, you can finance the land purchase (or payoff of an existing lot) and construction in a single loan.

The builder is responsible for covering interest-only payments and construction management fees on VA construction loans.

Yes. Barndominiums, site-built homes, and modular homes are eligible property types for VA OTC loans.

Yes. Builders must meet specific experience, licensing, and insurance requirements. We will send the builder a packet to complete to get approved.

Yes. Borrowers may request a one-time float-down option before conversion to permanent financing if rates are at least 0.25% lower.

Up to $2 million depending on qualifying factors, with 100% financing available up to $1 million.

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