Best VA or conventional loan for 1.4 million construction
My spouse is a disabled Veteran has the VA loan but could go with conventional. He’s wanting to build a 1.4 mil home but was told with interest rate for conventional is 9.2 only during the build then we convert to a VA construction loan is at 6 percent for the duration of the build and loan. We don’t fully qualify at present for the VA construction loan but will in the near future. We can qualify for the conventional loan right now and can start building immediately. Can you tell me the benefits of each and is there a big difference if we go with the conventional loan just during the build or is it better to wait to qualify for the VA construction loan to provide more protections🤷Thanks in advance if you know any solutions to help me make his dream come true let me know🙏‼️‼️