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VA Land Loan vs Construction Loan when you own land?
Hello everyone. Not sure if I posted this in the correct section, but I have a relative (retired senior citizen veteran) in a rural area that currently owns land. This land has a very old house on it. The house is dilapidated and needs to be torn down and a new one built. As a result of the neglect the land now needs to be recleared and new home built. Property is approximately 3.5 acres. My questions are:
Is this possible using a VA loan? If so, which one? If not, what would be a recommended course of action? By the way we're talking middle Georgia. Thank you in advance.