Can I include the purchase of the land in this loan? Yes, the loan can include both the land purchase and the construction. Can I combine my existing land loan into this construction loan? Yes, if you already have a land loan and you get a construction loan, part of the construction loan may be used to pay off the land loan. Do I have to find the builder, or do you recommend specific builders? VACU does not recommend specific builders. VACU will review and accept the builder you’ve selected. How do I use the construction loan to pay the builder? We use a digital platform called Built to help you manage and approve the draws requested by the builder in real time. If the construction is done earlier than the term of the loan, can I pay it off earlier? Yes, you may pay off the loan at any time. There is no pre-payment penalty. At the end of construction, can I apply for a loan with VACU for a permanent mortgage? Yes, we’re always happy to work with our valued members. Please let your mortgage loan officer know you are interested in permanent financing.