Land & Total Build Costs In Just One Loan, or Two. VA Jumbo is Available. Qualified Borrowers May be Eligible For up to $50,000 Extra Before Or After Closing.
At VAnationwide.com, we’ve been closing one-time close construction loans for years longer than most bankers have known they were even in existence. While many think these are elusive unicorns and too hard to obtain, we are happy to help you get this loan.
They’re not the most accessible loan at all; however, we built one of the top teams in the country that closes and processes these loans daily. Most loan professionals have yet to close their first loan like this and wouldn’t know where to start. So, it’s imperative to choose a team with vast experience when choosing to build.
Choose wrong, and you’ll almost be sure to miss your closing date, end up with a loan denial when you should’ve been approved, or these delays could cost you land contracts and be met with increased build costs. None of these are good situations.
Overall, as our borrower, you may already own your piece of land; it can be paid off or have a loan balance. If there is a loan balance to pay off, it will be paid off with our closing. If there is equity or it’s free and clear, land equity will count towards the down payment or equity on the new loan. If you don’t have land, land can be purchased under contract and paid off in our VA one-time close construction loan closing.
We fund through the final construction phase, from start to finish. There is no other loan you require. The VA One-Time Close Construction Loans represent all transactions in one loan, with greatly reduced closing costs over many other banks offering this option. One appraisal, one underwriter looking at your file instead of 3, and one rate lock.
Traditional construction loans mostly require borrowers to get a loan for the land, with many lenders requiring significant down payments on that land, more so now that the economy has taken a hit and banks have tightened their funding.
Then, you would need to get a construction loan, where most lenders also require a significant down payment for the same economic reasons.
That’s two loans; after the construction is complete, you need to do a final loan to pay off the construction loan and consolidate your land loan. The last loan is called “construction-to-perm financing or “take-out financing.”
That is three loans with significant down payments, three sets of closing costs spread out over three loans, 2-3 appraisals, and 2-3 underwriters. Attempting this in multiple loans with different banks involved in different stages of the process brings some risks, where rates, economy, and job situations can turn unfavorable.
Do you have the time, resources, and patience for that long-drawn-out process? We didn’t think so, and that’s why a VA One-Time Close can be much more advantageous.
Keep cash in your pocket, limit down payments, and partner with a bank that brings forward multiple solutions to fund your new dream build.
As of May 27, 2025, the VA One-Time Close Construction Loan has been discontinued by most lenders and investors across the country due to increased investor risk and stricter guidelines in the secondary market.
That said, here’s what many don’t know: long before this pause, the One-Time Close model had already become a financial headache for veterans. Numerous brokers and lenders were attaching **outrageous administrative fees—often over $50,000—**to these loans, making it harder for properties to appraise and putting unnecessary strain on borrowers.
At VANationwide.com, we’ve built something better from the ground up.
Our in-house VA Two-Time Close Construction Loan offers a powerful, veteran-first alternative that avoids the issues tied to outside brokered loans:
More competitive interest rates than investor-backed OTC programs
No inflated admin or investor fees
Zero second-closing origination fees – we take care of them for you
Up to 100% VA construction financing (many One-Time Close lenders only go to 90%)
Draws, disbursements, and inspections all managed internally for consistency and speed
Work directly with one experienced banker from start to finish—no handoffs or third-party confusion
In addition to our VA offerings, we provide one-time OTC and 2X Close:
Up to 95% financing on Conventional Construction Loans
Up to 95% financing on FHA Construction Loans
Jumbo Construction Loans
Our process isn’t outsourced or farmed out to random loan processors. Every stage—from underwriting to post-close construction oversight—is handled by our internal team to give you a streamlined and reliable experience.
While we continue to monitor the One-Time Close market (and it may eventually return), the fact is—our in-house VA construction solution is already outperforming what other lenders were offering. With better pricing, lower costs, and more personal service, we’re here to help veterans build smarter, faster, and with greater peace of mind.
All financing options are subject to change without prior notice, depending on investor availability and market shifts. For the most accurate guidance and personalized VA construction advice, connect with one of our dedicated loan specialists today.
Modular homes are viewed by our team in the same way as stick-built or site-built homes. Many borrowers choose modular homes for many reasons. Their superiority to build quality in climate-controlled conditions and faster construction times when dealing with more in-climate weather around the country make these homes a great option. Not to mention, the costs are significantly reduced over site-built homes. Modular Homes are usually built in more than 4-10 sections, do not come attached to an axle and tongue, and are not issued a VIN like a Manufactured Single, Double, or Triplewide. You can choose builders from across the country, order your home, and have it delivered, installed, and set up under this program.
Get Up To 100% For Veterans & Jumbo Limits up to $3 Million. These styles consist of wood, log, frame, brick, and more traditional construction styles acceptable under our version of this program. Build a ranch slab, starter home, ranch walkout, ½ story, or two-story home with or without a walkout, but stay on the more traditional side of this property. Find a great piece of land and start building your dream home for you and your family.
Curious how much you might qualify for in your specific area? VA loan limits can vary depending on the county, especially for high-cost areas. Be sure to check your VA loan limits by county to see how much you may be eligible to borrow for your new construction project, renovation, or land purchase.
Manufactured doublewide or triple-wide manufactured homes from the dealer of your choice to place on the land you own or land you found and want to buy are eligible, along with Barndominium Style/Metal Style Homes.
We do not offer this option for those looking to place a home on land not owned with this property, such as mobile home parks, rented lots, leased land, family-owned land, or any land you do not own where the home must be permanently affixed to.
Interest-only payments during construction and one-time and two-time construction loans are available for great manufactured property styles. Must be a minimum of 600 sq. ft.
*We do not offer new Dealer Manufactured Home Loans in New York. Modular and Site Built land and home construction is allowed in all 50 states.
Whether you're just exploring your options or already working with a builder, our VA construction loan calculator gives you a clear picture of what to expect before you break ground. Estimate monthly payments, construction phase costs, and potential land roll-in—all tailored for VA-eligible borrowers. It’s a quick and easy way to get a handle on budgeting your build and seeing how one-time close loans compare to traditional multi-loan setups. Try it now and start shaping your budget with confidence.
Want a clearer idea of whether you might qualify? Use our VA loan DTI calculator to see how your debt-to-income ratio affects your construction loan eligibility. It’s a simple yet powerful tool that breaks down your financial profile and helps you determine how much home you can afford before you start the building process.
YES: Jumbo Home Financing, Steel/Metal Homes, Barndominiums, Log Cabins, Concrete Block Homes, SIP Panel Homes, ICF Insulated Concrete Foam Homes, Log Cabin Style Homes, Multi-Family, 2nd Homes, ADU Accessory Dwelling Units.
Ineligible Property Types: Singlewide Manufactured, Earth Contact, Geodomes, Container Homes, Tiny Homes, Shomes (Shop Homes), A-Frames, Mixed-Use Property, NO Investment Homes, Nor Any Commercial Projects. No self-build or self-contracting allowed.
640 minimum credit score required.
Conforming, High-Balance, and Jumbo loans up to $3+ Million.
Single Family, Multi-Family, Primary Residence, 2nd Homes, and Accessory Dwelling Units Eligible.
Available in all 50 states.
Up to 100% under our VA program for Veterans.
1 Loan vs. 3 saves closing costs, appraisals, title fees, & down payments when factoring in land loan, construction loan, and final take-out loan of traditional construction financing. Our Two-Time Close construction loan is still available.
For veterans looking to simplify the process and save thousands in closing costs, our VA One Time Close Construction Loan is a game-changing solution that merges land, build, and mortgage into one seamless loan package.
One-Time Close Requires NO Re-Appraisal, one appraisal only, completed as if the home was built, so no worries of property values dropping during the build.
Available land equity can be used towards a portion of or all down payment if owned or purchased simultaneously.
The land you own with a loan balance remaining will be paid off and rolled into the loan.
Need to Buy Land and haven’t found it yet, or looking to sell a property as well? Pair with our powerful local Real Estate Agents and receive up to 30% of their commissions back as a closing cost credit, saving you hundreds to tens of thousands of dollars.
Our construction loan is 100% in place before breaking ground.
Full inspectors ensure your build is going as planned before payments are made to the builder.
The builder is never paid for work that is not yet completed, which is designed to protect you, the customer.
Attractive Fixed and Interest Only terms are available.
No Self-Help, Family Builders, and Buyer can not act as a contractor or complete any work on the home.
The builder/retailer can offer seller concessions rolled into closing costs, and VA loans may possibly have zero out-of-closing.
*Well-qualified borrowers may be eligible for up to $50,000 in additional funds before or at closing to use as they wish.
Ineligible Property Types: Singlewide Manufactured, Earth Contact, Geodomes, Container Homes, Tiny Homes, Shomes (Shop Homes), A-Frames, Mixed-Use Property, Nor Any Commercial Projects, NO Investment Homes. No self-build or self-contracting allowed.
Richie, OK... so you've officially done something I've never seen in 22+ years selling real estate. Closed a VA Loan on 224 Acres, with a Manufactured Home. CONGRATULATIONS! and THANK YOU!!! Admittedly, I was skeptical (more like pessimistic) when James told me you were going to get this VA Loan completed. And I had many doubts along the way, because I'd seen so many VA Lenders fall flat on their faces, just before the Closing. BUT... You got the Job DONE! Occasionally, I find someone out there who has done an Outstanding Job, helping my Clients... and You are one of these! I'm now officially a FAN of You and Your Work. I would be honored to promote you and your services to other Agents within our company, and I intend to do so. I will call you when I've caught up on my work a bit... and learn more about how I can do my job better on the next VA transaction. ~Tom K. Realtor
We have over 25 years of working as a team helping current and future homeowners find the most competitive fixed-rate VA mortgage loans while navigating challenging economic instability. We promise never to spam you, sell your information, bombard you with robocalls, or provide anything but a clear, transparent conversation from start to close! It all begins here!
Aside from VA Home Loans, we offer so many options. From Construction To Bridge Loans, Down Payment Assistance Programs, Doctor Loans, Veterinarian Loans, Nurse Practitioner Loans, First Responder Loans, Foreign National, ITIN, and Extensive Renovation Projects, even Manufactured Homes, each loan is as unique as the home! Treating our customers with extreme care and attention to detail, we can’t wait to serve you. We’re solution-oriented, efficiency-motivated, and highly skilled bankers working for you; let us help you today!
THE FEDERAL SAVINGS BANK IS NOT AFFILIATED WITH OR ACTING ON BEHALF OF THE FHA, USDA, VA, OR THE FEDERAL GOVERNMENT.
*Subject to credit approval. Terms and conditions may apply. Property insurance is required on all loans secured by property.
*Messaging and Data Rates May Apply.
*VA eligibility is required for VA loan products. USDA loans are only available in USDA-eligible areas as designated by the USDA.
*We do not offer new dealer-manufactured home loans in New York, but we do offer modular and site-built land and home construction.
*Qualification for up to $50,000 extra is for qualified borrowers and can be applied to all loan programs. This is a separate unsecured consumer loan we will underwrite in-house at the same time as your requested mortgage loan. Please contact your banker to request this program and the applicable rates, terms, and conditions. Consumer unsecured lending programs prohibit loan proceeds from being used for down payment.
REALTOR® is a registered trademark of the National Association of Realtors and is not affiliated with NationwideHomeLoansGroup.com or The Federal Savings Bank.
†Subject to applicable law and lender approval, when represented by one of our participating real estate brokerage companies during the purchase or sale of a home or land, eligible Consumers may receive a rebate of up to thirty percent (30%) off of the fee to be received by the participating real estate brokerage company representing the respective Consumer, at closing, which rebate will be applied exclusively toward paying down that Consumer’s applicable closing costs. In no event shall any rebate be greater than the aggregate of all closing costs. Issuance of a rebate is subject to a participating real estate brokerage company’s receipt of its fee. The following states condition, or do not permit, the granting of a rebate by real estate brokerage companies (list is subject to change at any time): Alaska, Iowa, Kansas, Louisiana, Mississippi, Missouri, New Jersey, Oklahoma, Oregon, and Tennessee. No remuneration is paid to The Federal Savings Bank or to any of our Bankers. This is a free program offered exclusively by us to help our consumers save on their real estate transactions.
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