Estimate the land, construction budget, required contingency, construction interest reserve and other project costs that may make up a VA One-Time Close construction loan.
Enter the costs you know today. This calculator does not collect or store personal financial documents.
Add your project details and an interest rate, then calculate your estimate.
Other normal mortgage closing costs and certain project review or final inspection costs may apply and are not included in this project estimate.
This calculator is provided for educational and planning purposes only. Results are estimates and are not a Loan Estimate, loan approval, commitment to lend or guarantee of final costs. Construction guidelines, fees, interest rates, draw structures and project requirements may change. Final loan terms and project costs are determined during the loan and project approval process. Lima Charlie Home Loans is a team brand powered by Edge Home Finance, LLC.
With a VA One-Time Close construction loan, loan funds are advanced throughout construction rather than all at once. Interest is calculated as funds are disbursed. Depending on the loan structure, an estimated construction interest reserve may be included in the project budget so the borrower is not making the normal mortgage payment while the home is being built.
Construction projects can change after work begins. A contingency provides room in the project budget for eligible unexpected construction costs. Unused contingency funds do not become cash back to the borrower. They will be removed from the final loan amount at conversion to the permanent mortgage.
VA construction loan structures and project costs can vary. If you already have a quote or project budget, Rafael can help you understand how it is structured and what is being included.
A VA One-Time Close loan may combine eligible land, construction and permanent mortgage financing into one loan with one closing. The structure still depends on borrower eligibility, the property, builder, plans, budget, appraisal and project approval.
When eligible land is purchased as part of an immediate build, the land remains a separate acquisition cost while the construction budget covers the home and approved improvements. Both can contribute to the total project financing.
Land owned free and clear can be entered as $0. If an existing lien will be paid at closing, that payoff can be included. Title, ownership, existing liens and documented equity are reviewed with the full loan.
Construction funds are advanced over time, so interest changes as draws occur. A reserve may account for that estimated interest. The required contingency creates room for eligible unexpected construction costs.
The builder, contract, plans, specifications, budget and draw process must meet applicable requirements. Approval should be addressed before construction commitments are made.
Eligible manufactured and modular homes may be considered when the home, installation, foundation, title, land and builder satisfy the applicable VA, lender and investor requirements.
Read the full VA One-Time Close construction guide for more about land, builders, draws and project timing.
Last reviewed: September 22, 2026
