Form with which a corporation may resolve to authorize an officer or representative to loan a specific amount of funds to another party.
Corporation Any Loan For Buying Land In Virginia
State:
Multi-State
Control #:
US-0043-CR
Format:
Word;
Rich Text
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The VA construction loan program lets you use a VA loan to buy land, but only if you're going to later build a house on it. Did you find a great deal on a land or lot?Looking to fulfill your dream to be a landowner? Land loans are used to finance the purchase of a plot of land. This program provides two types of loans to purchase and develop housing sites for low- and moderate-income families - Section 523 and Section 524. You can use a VA loan to purchase land, but you must meet certain requirements. We offer credit union land loans to our members in Florida, Georgia, Tennessee, South Carolina, North Carolina, Ohio and Virginia. Buying land with a VA loan is possible, but it must be done simultaneously with constructing a new home. VA loans can be used to buy land as long as you plan to live in a home on the property and meet other requirements of the program. USDA construction loans can finance the land, build your home, and serve as your longterm mortgage.