Honoring Our Veterans: Build Your Dream Home with a VA One-Time Close Construction Loan

At Northeast Financial, we proudly serve those who have served our country. That’s why we’re excited to offer the VA One-Time Close New Construction Loan—a powerful, streamlined solution that allows eligible Veterans and active-duty service members to build a brand-new home with no down payment and only one closing.

Whether you’re stationed stateside or transitioning into civilian life, this loan is designed to make building your dream home easier, faster, and more affordable.

🇺🇸 What Is a VA One-Time Close New Construction Loan?

This loan combines the financing for your home construction and long-term mortgage into a single loan with one closing—meaning fewer fees, less paperwork, and no need to requalify when construction is complete.

You can use this VA benefit to:

• Purchase land and build a home, or

• Build on land you already own

Once the home is built, your loan automatically converts to a standard VA mortgage—no second closing required.

✅ Key Benefits for Veterans

• $0 Down Payment required

• No monthly mortgage insurance (PMI)

• No payments required during construction

• One closing—fewer fees, fewer headaches

• Interest rate float-down option if rates drop before construction ends

• Builder and budget approval process ensures your investment is protected

• Eligible for loan amounts up to $4 million

🔨 How the VA One-Time Close Process Works

1. Get Pre-Approved: We assess your eligibility and help you understand your budget.

2. Choose Your Builder: They must be approved through a simple vetting process.

3. Close the Loan: The land and construction are financed together—no need for a second loan.

4. Construction Begins: Builder receives funds in draws as each phase of the project is completed.

5. No Payments During Build: Interest is paid out of the construction budget—you don’t make payments until the home is done.

6. Final Inspection & Move-In: Your loan converts into a standard VA mortgage with full benefits intact.

🏠 Who Is Eligible?

• Active-duty military

• Veterans with eligible service

• National Guard and Reserve members with qualifying service

• Surviving spouses (in some cases)

If you’re eligible for a VA loan, you can use this program to build your primary residence—with no out-of-pocket down payment and no monthly mortgage insurance.

📋 Key Loan Features

• Loan Term: 30-year fixed (converts after construction)

• Loan Amount: Up to $4 million

• Max LTV: 100% (zero down)

• Min Credit Score: 580

• Property Type: Primary residence only

• Construction Period: Up to 11 months + 1-month modification period

• No cash out to the borrower allowed

• Builder’s risk insurance required (can be paid by the builder)

• Full appraisal required (based on plans/specs and completion report)

🔧 Construction Oversight You Can Trust

To help ensure the project runs smoothly:

• A dedicated third-party manages draw inspections, ensuring the builder is on track before funds are released.

• Builders are thoroughly vetted for licensing, experience, and insurance.

• A project contingency reserve is required to help cover unexpected expenses.

• Final draw isn’t released until the home passes inspection and receives a Certificate of Occupancy.

❤️ You Served. Now Let Us Serve You.

At Northeast Financial, helping Veterans and their families isn’t just a service—it’s a privilege. You’ve given so much for our country. Now, let us help you create the home and future you deserve.

If you’re ready to build, we’re ready to guide you through the process with expert care and gratitude.

Get started today.
Reach out to Northeast Financial and let’s make your vision a reality—with a home built just for you.

Footnote:
All loans are subject to lender approval and current lender guidelines at the time of application and closing.