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Building a home from the ground up is exciting, especially when you can use your VA benefit to do it. Construction financing is different from a typical purchase loan, and in North Carolina, getting the structure right from the start goes a long way toward keeping the build moving smoothly. In Part 1 of our VA Construction series, we’ll cover the essentials for North Carolina buyers (including those building across the Triad): what a VA construction loan is, who it’s for, the high-level difference between One-Time Close and Two-Time Close, and the big-picture timeline you can expect as your build gets underway. What Is a VA Construction Loan (and Who Is It For)? A VA construction loan allows eligible VA borrowers to finance the construction of a new primary residence using their VA benefit, rather than purchasing an existing home. This option is typically a fit if you: Want to build a primary residence (not an investment property) Have already found land, or are still deciding how land will be handled in the financing Want one plan for the whole project (land + construction + long-term mortgage), depending on the structure you choose Prefer guidance from a team that understands the moving parts: builder paperwork, plans/specs, budgets, draw schedules, and inspections Across the Triad—Winston-Salem, Clemmons, Lewisville, Kernersville, High Point, and Greensboro—we see many VA buyers choose construction because it gives them more control over layout, finishes, and function from day one. One-Time Close vs. Two-Time Close: What's the Difference? One of the first decisions you’ll make is whether your construction loan is structured with one closing or two. One-Time Close (OTC): One Loan, One Closing A One-Time Close (sometimes called “single close”) combines the construction phase and the permanent mortgage into one loan with one closing . Depending on the program, that can mean: One set of closing costs A more streamlined process since you are not completing a second closing later Financing that is set up upfront for both construction and the long-term mortgage During construction, funds are typically released in stages as work is completed (draws), and payments are often based on the amount drawn. Two-Time Close (TTC): Two Loans, Two Closings A One-Time Close (sometimes called “single close”) combines the construction phase and the permanent mortgage into one loan with one closing . Depending on the program, that can mean: One set of closing costs A more streamlined process since you are not completing a second closing later Financing that is set up upfront for both construction and the long-term mortgage During construction, funds are typically released in stages as work is completed (draws), and payments are often based on the amount drawn. A Two-Time Close uses two separate closings : one for the construction loan and a second closing later for the permanent mortgage once the home is complete. At a high level, that can mean: Two sets of closing costs/fees A second approval step tied to the permanent mortgage More sensitivity to changes in credit, income, or debt between the first and second closing Which option is right? There is no one-size-fits-all answer. The best structure depends on your build plans, your timeline, and the specific guidelines for the loan program and project. We’ll help you compare the options and choose the structure that fits your situation. The Big-Picture Timeline: What to Expect (Start to Finish) Construction loans can feel complicated until you see the full picture. Here’s the high-level timeline we walk through with VA construction buyers in North Carolina. Early Planning and Pre-Qualification This is where we look at the basics. We’ll start by reviewing VA eligibility basics, your budget range, and your target timeline. Then we’ll talk through the moving parts that are unique to a construction loan. Choose Your Builder (and Align the Plan) Construction financing requires more upfront detail than a standard purchase. Once you select a builder, you’ll align on the core items the loan will be built around: - Plans and specifications - Budget - Construction timeline - Contract terms Land: How it Fits into Your Construction Loan Some buyers already own land, while others plan to purchase land as part of the overall project. For some buyers, land is still the part of the plan that needs to be finalized. The important part is making sure the land approach aligns with the loan structure and your overall budget, since construction financing can accommodate land in more than one way depending on how the loan is set up. Submit Plans, Specs, and Contract for Review By this stage, all the details come together for formal review. You’ll submit the plans, specifications, and contract so the full scope of the project can be evaluated. Underwriting and the construction team need a clear picture of what’s being built, who’s building it, and how the budget is structured. Full Loan Application and Approval Once the builder and project documents are in, you’ll complete the full loan application and the file moves into underwriting. During this phase, your qualifications and the construction details are reviewed together so everyone is working from the same complete picture. Closing When underwriting is complete, you’ll move to closing. Depending on whether you’re using a One-Time Close or a Two-Time Close structure, this is either the single closing that sets the full project in motion, or the first of two. Construction Begins and the Draw Process Starts Once construction begins, funds are typically released in stages called draws, as work is completed and verified. During the build, payments are often structured as interest-only based on the amount drawn, rather than the full loan amount. The draw schedule and inspection process help keep the project aligned with the budget and build progress. Final Inspection and Closeout When the home is built, a final inspection is completed, and the construction phase is closed out. From there, the financing transitions into the long-term mortgage based on the structure used, and the project is finalized for move-in. Construction Lending Experience Matters in NC In North Carolina—especially across the Triad— construction financing tends to move more smoothly when you work with a team that’s comfortable with the process. Construction loans involve builder documentation, detailed plans and budgets, and a draw process that has to stay aligned with the build timeline. The goal isn’t just getting approved, it’s setting the project up with clear expectations so the build can stay on track. FAQs Can you use a VA loan to build a house in North Carolina? Yes. Eligible VA borrowers may be able to use their VA benefit to finance the construction of a new primary residence in North Carolina, depending on the loan structure and program guidelines. Do you have to own land before getting a construction loan? Not always. Some borrowers already own land, while others purchase land as part of the overall construction plan, depending on how the loan is set up. When do payments start on a construction loan? During the construction phase, payments are typically interest-only and based on the amount that has been drawn, not the full loan amount. What’s the difference between a One-Time Close and a Two-Time Close? A One-Time Close combines construction and the permanent mortgage into one closing, while a Two-Time Close uses a separate construction loan and a second closing for the permanent mortgage once the home is complete. A quick way to remember it: OTC = one closing . TTC = two closings (one to build, one when it’s finished). Is a One-Time Close or Two-Time Close better? It depends on your build, timeline, and program guidelines. The best option is the one that fits your project and keeps expectations clear from day one. If you’re thinking about building in Winston-Salem or anywhere in the Triad, we can walk through your VA eligibility, your land/build plan, and whether a One-Time Close or Two-Time Close structure makes the most sense for your timeline. Ready to turn plans into your new address? Call the Sharpe Mortgage Team at (336) 575-9448 to talk through your VA construction loan options.

Most construction loan issues don’t happen mid-build. They happen before construction ever starts . Here are the most common reasons construction loans fail — and how to avoid them. Incomplete Builder Documentation Missing licenses, insurance, or vague contracts can derail approval quickly. Unrealistic Budgets Appraisers rely on plans and specs. If costs aren’t realistic, the value won’t support the loan. Borrower Qualification Changes Because construction loans are underwritten upfront, job changes, new debt, or credit hits can cause problems later. Poor Draw Planning If draw schedules aren’t aligned with real construction timelines, cash flow issues arise How to Avoid These Issues Involve your lender early Use experienced builders Lock down plans, specs, and budgets Don't treat construction financing like a standard mortgage Bottom Line Construction loans succeed when they’re structured properly from day one. The goal isn’t just approval—it’s a smooth build. Call (336) 575-9448 to get started today.

One of the easiest ways to keep your loan on track is to have the right documents ready from the start. Underwriting is a verification process. The goal is to confirm your income, assets, and overall financial picture so your loan can be approved with confidence. When the right documents are provided early (and in the right format), the process tends to feel smoother, faster, and a lot less stressful. Below is what most buyers should be prepared to provide, along with a few tips that can help prevent delays. Proof of Identity This is the straightforward part, but it matters. Most buyers will need a valid driver’s license or state-issued ID, and your loan application will capture your Social Security number as part of the process. Income Documents Income is one of the biggest pieces of loan approval, and the documentation depends on how you’re paid. For W-2 employees, you’ll typically be asked for recent pay stubs (often covering about 30 days) and W-2s from the last couple of years. Self-employed borrowers, commissioned earners, or anyone with variable income usually needs a bit more detail. In those cases, underwriting often requests personal tax returns (commonly two years), plus business tax returns when applicable. It’s also common to provide a year-to-date profit and loss statement, and sometimes a balance sheet depending on the scenario. Other income sources may require their own supporting documents as well. For example, Social Security, pension, disability, rental income, or support payments you want included may call for award letters, leases, or documentation that shows the income is consistent and likely to continue. One helpful tip here: if you already know your income is “non-standard,” tell us upfront. It’s not a problem, it just changes the document plan Bank Statements and Assets Underwriting also verifies your funds. That includes the money you’ll use for your down payment and closing costs, plus any reserves that may be required. Most buyers will provide recent bank statements, typically the last one to two months. If you’re using (or need to document) retirement or investment funds, you may also be asked for those statements. A few things can create extra questions even when everything is perfectly fine: large deposits that aren’t clearly sourced, cash deposits, cropped statements, or screenshots that don’t show the full account details. Transfers between accounts can also slow things down because they create a paper trail that underwriting may need to follow. When possible, it’s best to keep funds steady once we’ve documented them. Gift Funds If a family member is helping with funds, that can be a great option, but it needs to be documented correctly. Typically, that includes a signed gift letter and a clear record showing the money leaving the donor’s account and arriving in yours (or being sent directly to closing, depending on the method). The most important advice here is simple: talk to us before money moves. That one step can prevent a lot of avoidable follow-up later. Credit and Debt Follow-Ups Even when your credit is solid, underwriting may still ask for clarification on certain items that appear on the credit report. That can include explanation letters for a recent inquiry or a late payment, documentation for a debt that doesn’t match what’s reporting, or proof that a debt has been paid off if it’s needed for qualification. This isn’t a red flag. It’s just the underwriter making sure every part of the file is supported so the approval is clean. Housing History (Sometimes Needed) In some cases, underwriting may want to confirm housing history, especially if you’re currently renting. That might involve landlord contact information, a verification of rent, or proof of on-time payments depending on the loan scenario. Not every file requires this, but it’s good to be aware of it so it doesn’t catch you off guard. A Few Tips That Help Everything Move Along Gather documents early, even before you tour homes seriously Reply quickly to document requests, even if it’s “I’ll have this tomorrow” Keep big financial changes on pause during the process (new credit, new debt, job changes) When in doubt, ask. We’d rather answer a quick question than untangle an avoidable issue later One Quick Note for After You're Under Contract Pre-approval is about you: income, assets, and credit. Once you’re under contract, we’ll also collect a couple quick items to keep underwriting moving, like earnest money verification and your homeowner's insurance information. Bottom Line Loan approval doesn’t have to feel overwhelming. Most delays happen when documents are missing, incomplete, or submitted in a way underwriting can’t use. A little preparation upfront can make the entire process feel calmer and more predictable. Ready to get pre-approved with confidence? The Sharpe Mortgage Team will walk you through what you need based on your specific scenario, help you stay one step ahead of underwriting, and keep the process moving. Call (336) 575-9448 to get started today.

Many Veterans don’t realize they can use their VA benefit to build a home. VA construction loans exist—but they are very different from traditional VA purchase loans. Can You Build With a VA Loan? Yes. A VA one-time close construction loan allows eligible Veterans to: Buy land Build a home Convert to permanent VA financing all in one loan. Key Benefits 0% down payment (in most cases) No monthly mortgage insurance Competitive interest rates One closing instead of two The Catch (and Why Lender Experience Matters) VA construction loans require: VA-approved builders Detailed plans and specs Strict draw inspections Strong upfront structuring Many lenders don’t offer these loans because of the complexity. Those that do must understand both VA guidelines and construction logistics. Timeline Reality Check VA construction loans take longer upfront than a standard purchase. Planning early avoids frustration later. Bottom Line If you’re a Veteran thinking about building, a VA construction loan can be an incredible benefit—but only with the right lender and builder team in place. We’re here to help when you’re ready. Call (336) 575-9448 to get started today!

If you’re house hunting in the Triad, you’ve probably asked the question: Do we build, or do we buy something that’s already done? Both paths can be smart. They just come with different trade-offs, and the best choice usually depends on your timeline, budget, and comfort zone. Below is a simple breakdown to help you decide which option may be the best fit for you. Building a Home Why it can be a great move Building can be a great fit if you want more control over the end result. Even when you’re selecting from a builder’s existing plans, you may still have options for layout adjustments, finishes, and upgrades that help the home feel more like you from day one. Another perk is that everything is new, which often means fewer immediate repairs early on. Depending on the builder and the home, there may also be warranty coverage on certain items, which can add peace of mind. Plus, new construction typically includes updated materials and modern systems that can improve comfort, efficiency, and maintenance in those first few years of homeownership. What to watch for Building also comes with a few things to plan for on the front end. Timelines can shift due to weather, permitting, supply chain delays, or inspection scheduling, so if you have a firm move date, that uncertainty matters. Costs can move around too. Model homes are designed to impress, and it’s easy for “upgrade creep” to kick in once you start adding finishes, selections, and possible lot premiums. And depending on the type of build, financing may involve more steps than a standard purchase, with additional timing considerations along the way. Buying a Completed Home (Move-In Ready) Why buyers love it Buying a completed home appeals to a lot of buyers because it’s usually simpler and more predictable. You can tour the home, schedule an inspection, and move forward with a more predictable closing timeline. What you see is what you get too. The neighborhood feel, commute, yard size, storage, and natural light are all right in front of you, rather than based on plans or a model. And depending on the home and the market, there may also be room to negotiate on price, repairs, or closing costs. What to watch for The trade-off with a completed home is that it can come with a little more history. Even well-cared-for homes may have older systems or maintenance needs, and some repair costs can pop up sooner than you’d like. You may also need to compromise — maybe you love the location, but the layout isn’t perfect, or the home checks most boxes but the kitchen isn’t your style. It often comes down to prioritizing what matters most and deciding what you’re willing to update over time. A Simple Way to Choose If you’re stuck between the two, ask yourself: How flexible is our move timeline? Do we want customization, or simplicity? How comfortable are we with variable costs? Are we set on a specific neighborhood or school zone? When those answers are clear, the decision usually gets easier. We're Here to Help Whether you’re leaning toward new construction or trying to win a move-in ready home, the Sharpe Mortgage Team can help you compare scenarios and understand how each path impacts your budget, timing, and monthly payment. Want to talk it through? Call (336) 575-9448. We’ll help you map out your next step.

Building a home is exciting — financing it is where things often feel confusing. A construction-to-perm loan (also called a one-time close construction loan) is designed to simplify that process by combining construction financing and permanent financing into one loan. Here’s how it works in North Carolina. Step 1: One Loan, One Closing Instead of taking out a short-term construction loan and refinancing later, a construction-to-perm loan closes once at the beginning. That means: One set of closing costs One approval process No second underwriting after construction Step 2: Construction Phase Once the loan closes, funds are released to the builder in stages called draws . Draws correspond to construction milestones (foundation, framing, drywall, completion, etc.). During construction: You typically make interest-only payments Payments are based only on funds that have been drawn Inspections are completed before each draw is released Step 3: Conversion to Permanent Mortgage After the home is complete and receives a Certificate of Occupancy, the loan automatically converts into a standard mortgage — usually a 30-year or 15-year fixed, or ARM. No re-qualifying. No re-closing. What Makes NC Construction Loans Different North Carolina construction lending is more documentation-heavy than many borrowers expect. Builder approval, detailed plans, specs, contracts, and timelines all matter. Working with a lender who does this regularly makes the difference between a smooth build and a stalled one. Bottom Line Construction-to-perm loans are powerful, but only when structured correctly from day one. The earlier the lender is involved, the smoother the entire build becomes. We’re here to help when you’re ready. Call (336) 575-9448 to get started today!

Hi. Birkin here. I have two jobs: supervise treats and help humans simplify things that sound complicated. “Construction loan” is one of those phrases that makes people assume the process is impossible unless you have unlimited money, unlimited patience, and a contractor who texts back within 3 minutes. The truth? It’s more straightforward than you might expect. Let’s bust the three most common construction loan myths we hear, so you can decide if building is a real option for you. Myth #1: "Construction loans are only for people with a massive down payment." Reality: Construction loans often require more money down than a standard purchase loan, but “massive” is not a universal rule. Down payment requirements can vary based on the lender, the program, your credit and income profile, and the details of the build. In some cases, land equity can help . If you already own the lot, that value may be able to offset part of what you’d otherwise need to bring in cash (depending on the loan program and how the land is titled/financed). What to know: Down payment requirements vary, and the goal is clarity upfront. Think of it like my treat budget: we’re not guessing, we’re mapping out what’s needed for your build and what options you can use to get there. Myth #2: "You get all the funds upfront, and you can change things anytime." Reality: Construction financing is structured around a defined plan, and lenders do not typically hand you the full loan amount on day one. Most construction loans work on a budget + timeline model. That means your plans, specs, and costs matter. The project is reviewed upfront, and the loan is set up with guardrails. Changes can happen, but they’re not always simple, because they can impact cost, timing, and approvals. What to know: Construction loans run on a defined scope and budget, and changes can ripple into cost and timing. It’s like my daily walks: a little flexibility is fine, but the smoother builds start with a solid route and fewer surprise detours. Myth #3: "It's just like a regular mortgage. You start paying the full payment right away." Reality: Construction loans are typically funded in stages, and the payment structure during the build is often different than a traditional mortgage. During construction, funds are usually released in draws as work is completed. That means the builder is paid in phases, not all at once. During the build, many borrowers make payments based on what has been drawn so far , which can look very different than a standard monthly mortgage payment. What to know: The process is designed to match the build timeline, portioned and timed like my kibble. Funds are released in stages, and payments often reflect what’s been drawn, so it’s structured, not just guesswork. A quick bonus myth Birkin hears a lot Some buyers assume building always means two closings. Sometimes it does. Sometimes it doesn’t. There are construction loan structures that can be set up to reduce the number of times you close, depending on the program and the lender. Our One-Time Close (OTC) construction loan lets you close once upfront for both the construction phase and the permanent mortgage. It's worth a quick conversation early so you’re not planning around the wrong version of the process.  Ready to build with less stress and confusion? If you’re thinking about building in the Triad or surrounding area, the Sharpe Mortgage Team can help you understand how construction financing works, what the timeline typically looks like, and what you need from a builder to get started. We’re here to help when you’re ready. Call (336) 575-9448 to get started today!

If buying a home in the Triad or surrounding area is on your 2026 to-do list, here’s an important update to know early. Loan limits are officially higher for 2026. It sounds technical, but it can affect how much home you can finance and which loan options may fit your needs, especially if you’re shopping in a higher price range. Here’s the simple breakdown. Conventional Loans: Up to $832,750 in Many Areas For many counties, the 2026 conforming (conventional) loan limit is now up to $832,750. If your budget is near last year’s ceiling, this update may help you: Avoid jumbo financing Qualify under more flexible guidelines Use a lower down payment than you might expect Bottom line: depending on where you’re buying, you may not need to move into a jumbo loan as quickly as you would have last year. FHA Loans: $541,287 in Most Areas For most areas, the 2026 FHA loan limit is $541,287 , with higher limits available in select counties. FHA can be a strong option if you’re looking for: A low down payment (starting at 3.5% ) More flexible credit guidelines The ability to use gift funds If you assumed FHA wouldn’t work because of loan limits, this update may give you a little more breathing room. VA Loans: Up to $832,750 in Most Areas For eligible VA borrowers, limits are also higher in 2026. In most areas, that means up to $832,750 , higher limits may be available in certain markets. That can mean: More buying power No down payment required (for qualified borrowers) Competitive rates and flexible guidelines If you’re a Veteran or active-duty service member in the Triad and haven’t revisited your numbers recently, this is a great reason to. Why This Matters Many homebuyers are still working off last year’s numbers. With the new limits in place, you may have more flexibility than you think as you start your search. These new limits are helpful, but the real question is how they apply to your plans. If you want clarity before you start touring homes, the Sharpe Mortgage Team can walk through your options and make sure you’re working with the right numbers.  Ready when you are. Call (336) 575-9448 to get started!