VA Construction Loan: How a Veteran Family Built a Home With $0 Down
- By Jim Blackburn
- on
Client Profile
- Names: James & Marissa K.
- Ages: 39 & 36
- Service: U.S. Army Veteran (8 years active duty)
- Location: Colorado Springs, CO
- Land Price: Gifted family lot
- Build Budget: $480,000
- Loan Type: VA One-Time Close Construction Loan
- Down Payment: $0
- Credit Scores: 698 & 715
The Challenge
After returning to civilian life, James wanted to build a home tailored to his family’s needs. He qualified for a VA loan, but most lenders required two closings and large upfront costs to fund construction.
He needed a true one-time close solution with no down payment, no monthly mortgage insurance, and the flexibility to work with his preferred builder.
The Strategy
We matched James and Marissa with a VA One-Time Close Construction Loan, which offered:
- $0 down (full financing of land and build)
- One-time approval and one closing
- No PMI and VA-guaranteed terms
- Interest-only payments during construction
- Smooth roll into a 30-year fixed mortgage after the home was completed
The Outcome
- Broke ground within 3 weeks of loan approval
- Finished their 5-bed, 3-bath custom home in under 8 months
- Locked in a low VA rate before market shifts
- Closed once, never requalified, and paid nothing out of pocket for land or construction
- Now advising fellow veterans on how to build with their benefit
Quote from James:
“We didn’t want to settle—we wanted to build. This VA loan gave us the flexibility, the funding, and the freedom to do it right.”
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