Welcome to Construction Loans Guide
Private Money Construction Loans Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
VA Construction Loans: Help for Veterans
from:When you first hear of VA construction loans, you may assume that it means construction loans in Virginia. That actually isn't the case. VA construction loans are quite a bit different. Instead of being about a state, it is meant for veterans of war. VA loans were originally put into favor with the GI Bill or Rights that president Franklin D. Roosevelt started. This bill of rights helps people who served in a war so that they get extra privileges. It is seen as a thank you for all of the great service that they did in the war.
The biggest difference between VA construction loans and regular construction loans is the down payment. Most people have to pay a hefty down payment when they apply for a construction loan. This is usually either three or five percent of the full loan amount. VA loans are different because they allow the veteran to get a loan without having to pay a down payment. This can open up a lot more chances to build your own home. After all, not everyone has the kind of money to be able to afford a down payment. These VA loans help by eliminating this for people who served in the war.
There are some restrictions when it comes to VA construction loans, though. You can't just be in the army and expect to reap the benefits of this loan. For example, you need to have served in active duty. You can't have a dishonorable discharge under your name. You also need to have served for 90 days in wartime or 181 consecutive days in peacetime. There are many other requirements in order for you to be eligible for this benefit. If you are considering VA construction loans, you should contact a lending company that offers it. They will be able to run you through all of the qualifications to determine if you can take advantage of this offer.
These VA loans are very helpful for people who qualify. It helps them buy their own home or build their own home where they may not have been able to otherwise. This is just one of the many ways that the government has stepped up to make life better for people who have served their country in any one of the many wars that have happened in recent years.
If you were in the army, you should definitely look into getting VA construction loans. They are very helpful and will give you a much bigger chance of owning your own home for the first time.
Private Money Construction Loans News
China to boost energy private investment to bolster economy
China signaled on Wednesday it wanted to ramp up private investment in its energy sector, in line with recently unveiled government plans to fast-track infrastructure investment to help combat a protracted ...
Read more...China in hardest private-sector push in decade
SHANGHAI/BEIJING (Reuters) - China signaled on Wednesday it wanted to boost private investment in its energy sector as Beijing makes its most determined push since joining the World Trade Organisation to reduce the role of the state sector in the economy. Many analysts say China must allow more private investment if it is to unlock new sources of economic growth, which the World Bank said would ...
Read more...Kindergarten student loans
More parents are turning to loans to finance their children's private school educations. But is the pre-college debt worth the risk?
Read more...Affordable housing: It’s not just for government anymore, roundtable report says
Toronto could see 7,700 new affordable homes and 13,000 new jobs created by the private sector if the city, province and feds adopt new policies.
Read more...Private Equity Funding Brazilian Home Builders: Mortgages
Brazil’s homebuilders are turning to private-equity firms for financing as banks withdraw lending after cost overruns added to rising debt burdens.
Read more...