VA construction loans are designed to benefit active-duty U.S. military service members and veterans. Eligible borrowers may be able to build a new home without a down payment, but there are strict ...

You can use a VA loan to build and finance a property you’ll use as your primary residence. However, you cannot use this type of loan to fund the construction of a vacation home or investment property ...

Construction loans are short-term, interest-only loans used to build on undeveloped land. Qualification for FHA construction loans requires a 3.5% to 10% downpayment and a credit score of 500+.