Entitlement handled correctly, draws managed through the build, and a real move-in date. Three VA one-time-close loans we've closed, one of each build type. Names have been changed to protect client privacy; the situations and numbers are real.
Site-built · Jonesborough, TN
A 62.5% debt ratio didn't automatically end their plans to build.
With a 651 credit score and a roughly 62.5% debt ratio, they used VA underwriting to finance a roughly $560,000 custom build on land they already owned.
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Mike and Brenda weren't sure a VA one-time-close loan was even available until a banker friend referred them to us. They owned their land and wanted to build a custom home before selling their existing house, but a 651 credit score and roughly 62.5% debt-to-income ratio made traditional financing difficult. Using the flexibility of VA underwriting, they secured a roughly $560,000 one-time-close construction loan and completed the home. They've since moved in, listed their previous house, and plan to use the sale proceeds to pay down consumer debt and their new mortgage.
Mike and Brenda C. · VA one-time-close construction borrowers, Jonesborough, TN · Builder: Scott Britton Construction (opens in a new tab)
Modular · Kingsport, TN
They bought roughly 17 acres and built their home with one VA loan.
One VA loan covered a $275,000 land purchase and a modular home, about $547,000 in total, with no separate land loan.
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Scott and Renee wanted to purchase $275,000 in land and build on it without navigating separate land and construction loans. Because the land represented such a large share of the project's value, they chose a modular home over a manufactured home to better support the property's overall appraised value. Their VA one-time-close loan funded the land purchase at the initial closing, then construction over the following months. The completed project appraised successfully, and they moved in with a total loan of roughly $547,000 after an optional down payment to keep the balance and payment where they wanted them.
Scott and Renee H. · VA one-time-close construction borrowers, Kingsport, TN · Builder: Clayton Homes of Kingsport (opens in a new tab)
Manufactured · Kingsport, TN
His land equity helped him build with no money due at closing.
Land he already owned covered his closing costs, so he financed a roughly $220,000 manufactured home with no money due at closing.
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Tyler, a younger veteran, already owned land that had been gifted to him and wanted to place a new double-wide on it while keeping his existing home for the time being. The land's value offset the closing costs and prepaid items, letting him complete a roughly $220,000 VA one-time-close loan without bringing money to closing. When an unexpected issue came up running power to the new home, the construction loan funded that work through a direct payment to the local power board rather than routing it through the dealer. Tyler completed the home while keeping the flexibility to sell or rent his previous residence afterward.
Tyler V. · VA one-time-close construction borrower, Kingsport, TN · Builder: Clayton Homes of Johnson City (opens in a new tab)
Names have been changed to protect client privacy. Loan amounts and details are real but reflect each borrower's individual credit, income, and underwriting circumstances; results aren't typical or guaranteed for every applicant.
