↑ Back to topicsWaterfront Custom Home Built Using a VA Construction Loan
Project Overview
This is a real VA construction loan project I helped structure from start to finish.
The borrower purchased a waterfront lot in Hertford, North Carolina and built a fully custom home designed the way they wanted it.
We structured this as a VA one-time close construction loan, which means everything was handled upfront—land, construction, and permanent financing all in one.
Property Details
- Location: Hertford, North Carolina
- Lot Size: ~1 acre
- Setting: Private waterfront community
- Water Access: Riverfront
Many people assume a waterfront lot like this needs complicated financing. Structured correctly, it fits in one VA construction loan.
Home Build Details
- Total Under Roof: ~7,800+ sq ft
- Heated Living Space: ~4,800+ sq ft
- Garage Space: ~1,200+ sq ft
- Stories: 2
This was a large-scale custom build designed around the water, with multiple outdoor living areas and a layout built for both everyday living and entertaining.
Interior Layout Highlights
- Open kitchen, dining, and living concept
- Large primary suite with walk-in closet and custom bathroom
- Multiple bedrooms and bathrooms
- Bonus rooms and flexible spaces
- Dedicated office
- Upstairs living area
The layout separates private and shared spaces, which is hard to find in resale homes.
Exterior & Site Considerations
This property required proper planning due to its location:
- Waterfront positioning
- Flood zone considerations
- Site layout for septic and well placement
- Structural planning for long-term durability
All of this was planned and budgeted before closing, which matters on a waterfront lot.
Project Investment
- Base Construction Cost: ~$1.19M
- Final Cost: ~$1.27M after upgrades
Upgrades Included:
- Expanded outdoor living space
- Pool adjustments
- Outdoor kitchen
- Increased finish allowances
These upgrades were included in the construction budget, not added after the fact.
How the Loan Was Structured
This was a VA one-time close construction loan, which allowed the borrower to:
- Buy the land and build with one loan
- Lock everything in upfront
- Avoid multiple closings
- Eliminate mid-project financing risk
Not every lender offers a VA one-time close construction loan.
What This Project Really Shows
Veterans are often told that building with a VA loan is too complicated or not possible. This project worked because:
- The loan was structured correctly from the beginning
- The builder had clear expectations
- The process was managed properly from start to finish
Thinking About Building?
If you’re a Veteran considering building, don’t assume it’s out of reach. Tell my team what you want to build, and we’ll tell you whether it makes sense and how to structure it.
Contact my team or call 888-788-4977.
— VA loan expert Shirley Mueller