Believe it or not, you can do more with your VA loan than just buying a pre-constructed home. Front Range Mortgage offers the best advice when it comes using your Colorado Springs VA loan. They can help you buy land and build your dream home if desired. Further facts about Colorado Springs, CO can be found here.
VA land loans are typically designed to help you buy land. To qualify for the loans, you need to have a purpose for the land. If you’re buying it for farming, you should prove to the lender that you understand what you’re doing and that you’ll make a living from it. If you’re planning to put a house on the land, then you must have some official plans to construct the house before getting an approval for the VA land loan. Information about Different Types of VA Loans, Colorado Springs, CO can be found here.
Construct A House
Constructing your dream home is possible with the Colorado Springs loan. The VA construction loan is designed for this purpose. To qualify for the loan, you must have an approved builder’s construction plans, the cost for each step, timeframe for completing each step, and the cost of materials for the overall construction. Such loans aren’t popular, but Front Range Mortgage have you covered.
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