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4 Strong Construction Loan Options in Virginia, From Northern Virginia to the Shenandoah Valley
Virginia construction looks very different depending on where you stand. In Northern Virginia, it's often a teardown on an expensive suburban lot; in the Shenandoah Valley or Southside, it might be a farmhouse, a modular home, or a log home on acreage. Four strong construction loan options are Atlantic Union Bank, DuPont Community Credit Union, TD Bank, and Truliant Federal Credit Union, each with a single-close construction-to-permanent option for Virginia homes.
Disclosure: My Construction Path may be affiliated with, or receive compensation from, lenders featured in this article. Lenders are listed alphabetically, not ranked. Programs and availability change, so confirm details with each lender.
Our selection criteria
We only included lenders whose official sites show:
- Virginia availability for residential construction loans
- A single-close construction-to-permanent option
- Stated eligible home types, such as stick-built, modular, manufactured, or log
- A described builder review or draw process
All facts come from lender pages or reputable third-party coverage.
Side-by-side comparison
| Lender | Where in VA | Close options | Eligible homes | Builder & draws |
|---|---|---|---|---|
| Atlantic Union Bank | Branches across Virginia | One-time and two-time close | Single family, manufactured, modular (one-time close) | Builder review process |
| DuPont Community CU | Listed Shenandoah Valley and central VA localities | Single close or construction-only | Stick-built, modular, manufactured double-wide, log | Builder requirements in its construction guide |
| TD Bank | Loan officers in Springfield and Vienna | One-time close | 1-4 unit primary, second or vacation homes | Inspection at each draw; builder review |
| Truliant FCU | Available in NC, SC and VA only | Single close | Undeveloped land required | Plans, timetable and budget reviewed |
Atlantic Union Bank
Who it fits: Borrowers who want to choose between one closing and two, or who are building a modular or manufactured home.
Atlantic Union's home construction loans come in two versions. The one-time close option lets you lock the rate before construction with no requalification after the initial closing. The two-time close option refinances the construction loan into an FHA, VA, USDA, or conventional permanent loan, with requalification before the end-loan closing.
Get connected with this lender
Notable features:
- One-time close eligible property types include single family, manufactured, and modular
- An easy builder review process
- Property and flood insurance are required before construction starts, when applicable
- A separate Stay at Home Renovation Loan for major renovations to your current home
Atlantic Union has branches across Virginia, and notes that not all loans or products are available in all states.
DuPont Community Credit Union
Who it fits: Valley and central Virginia borrowers building a non-traditional home, such as a log or modular home.
DCCU's Single Close Construction to Permanent Financing covers the land purchase, construction, and long-term mortgage in one financing solution. A fixed rate for both the construction and permanent loan is locked up front.
Get connected with this lender
Notable features:
- How interest is handled during the build varies by lender.
- Stick-built, modular, manufactured (double-wide), and log homes are allowed
- A standalone construction-only loan if you don't need permanent financing
- A roadmap guide and checklist covering builder requirements, insurance, permits, and milestones
If you're buying land, DCCU says the property must be in listed localities, including Augusta, Albemarle, Frederick, Rockingham, Shenandoah, and Warren counties and the cities of Harrisonburg, Staunton, Waynesboro, and Winchester.
TD Bank
Who it fits: Northern Virginia borrowers who own their lot, have a lot loan, or are planning a major renovation.
TD's construction-to-permanent loan covers new construction and renovations with one application and one closing, converting after the home is complete and a certificate of occupancy is provided. TD lists mortgage loan officers in Virginia in Springfield and Vienna.
Get connected with this lender
Notable features:
- Fixed or adjustable options for 1-4 unit primary residences and second or vacation homes
- If you already have a loan on the property, the first disbursement pays it off
- Money you've put into land, drawings, and permits can generally count toward your down payment
- Inspections at each draw and a review of the builder's financials, license, and insurance
TD doesn't currently offer FHA or VA construction loans, or construction financing for condos or co-ops.
Truliant Federal Credit Union
Who it fits: Members building on raw land or a subdivision lot who want a float-down at conversion.
Truliant's single-closing construction loan combines your construction and permanent mortgage so you pay closing costs once. It's available only in North Carolina, South Carolina, and Virginia, and loans are serviced in-house.
Get connected with this lender
Notable features:
- Existing land equity may satisfy your minimum down payment requirement
- Land must be undeveloped: raw land or a lot in a recorded subdivision
- A rate float-down option at conversion if rates are lower when the home is done
- Truliant reviews your timetable, plans, and budget to check that the builder's costs are reasonable
Other Virginia lenders to consider
Truist offers one-loan, one-closing construction financing, says rehabs, renovations, and tear-downs are eligible, and has branches across Virginia. Citizens lists Virginia among its construction-to-permanent states. In Northern Virginia, McLean-based Chain Bridge Bank says it may offer residential construction and renovation loans, with review of plans, budgets, specifications, and contractor information.
Get connected with TruistGet connected with CitizensGet connected with Chain Bridge Bank
How to choose a Virginia construction lender
- Match the lender to the home type. If you're building modular, manufactured, or log, start with lenders that say so, like DCCU and Atlantic Union.
- Check the map. DCCU lends only in listed localities when you're buying land, and Truliant needs undeveloped land. Confirm your parcel fits before you apply.
- Choose one or two closings deliberately. Atlantic Union offers both. A two-time close can open FHA, VA, or USDA permanent financing but requires requalifying.
- Ask about flood and insurance timing. Atlantic Union requires property and flood insurance, when applicable, before construction starts.
- Plan for Northern Virginia pricing. Teardown lots can push projects past conforming limits; read our guide to jumbo construction loans and ask about the steps to convert to a permanent mortgage after the build.
- Building in the District? See our guide to Washington, D.C. construction lenders.
Frequently asked questions
Which lenders offer single-close construction loans in Virginia?
Atlantic Union Bank, DuPont Community Credit Union, TD Bank, and Truliant Federal Credit Union all describe single-close construction-to-permanent options on their official sites.
Can I finance a log or modular home in Virginia?
Yes, with some lenders. DCCU allows stick-built, modular, manufactured double-wide, and log homes, and Atlantic Union's one-time close covers single family, manufactured, and modular homes.
Can I use an FHA, VA, or USDA loan for the permanent mortgage?
Atlantic Union's two-time close option can refinance into FHA, VA, USDA, or conventional permanent financing. TD doesn't offer FHA or VA construction loans.
Can I tear down and rebuild in Northern Virginia?
Truist lists tear-downs as eligible. Truliant requires undeveloped land, so it isn't designed for teardowns.
Does DCCU lend everywhere in Virginia?
No. For land purchases, DCCU lists specific counties, cities, and towns, mostly in the Shenandoah Valley and central Virginia.
Find your Virginia construction lender
The right lender depends on your county, home type, and builder. Get connected with a construction lender at My Construction Path to compare construction loan options for your land, budget, and timeline, and see which builder-friendly lenders serve your area.
My Construction Path may be affiliated with lenders featured in this article. Lender programs, eligibility, and service areas change often and vary by location. This article is for general education and is not a commitment to lend. All loans are subject to credit and property approval by the lender.