Interactive project budget
VA Construction Budget Worksheet
The VA construction budget worksheet puts the major project costs in one place before you and the builder sign the final agreement. It covers the land and site work, then adds the builder contract and contingency. The worksheet also accounts for interest, insurance, draws, inspections, title work, and completion costs.
Enter each applicable amount, review the running total, then print the page or download the PDF or CSV version to share with your builder and our team. The 5% contingency, 20% interest cushion, $425 review fee, and 11-month period shown here are the current construction terms used in this worksheet, not universal VA requirements.
- Automatic running total
- Printable PDF and CSV
- Current construction inputs
- PBT Bancorp NMLS #257781
Want us to look at your VA loan options?
Tell us what you are working on and the best number to reach you. We will call, answer your question, and show you the next step. You do not need a credit check to ask.
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Prefer not to wait? Call 888-435-7315.
How do you use the VA construction budget worksheet?
Enter the estimated amount for every applicable line item, including costs you paid before closing when you plan to request eligible credit for them.
Property
Land and site work
Construction
Plans, permits, and builder contract
Protection
Reserves and insurance
Administration
Draw, inspection, and title costs
Completion
Closing and final project costs
$0
The itemized budget must match the signed construction contract. We show land equity separately because it reduces the amount that needs to be financed rather than adding another project cost. Fees and required line items can change with the home, builder, land, and loan amount, so we confirm the final figures before closing.
Project review
Want us to compare the budget with the proposed loan?
A construction specialist will first explain the review and provide the secure application and document-upload instructions. We then use the land status, contract amount, contingency, draw schedule, and expected completion date to compare eligible costs, supported value, interest reserve, cash needed, and timeline.
Construction planning
Which resources should you use with the budget worksheet?
We confirm the contractor and project documents, then use the verified figures in the one-time close calculator and loan review before the final contract is signed.
Online checklist
Contractor and project checklist
Track the builder’s license, insurance, experience, plans, contract, budget, payment schedule, inspections, and completion documents.
Open checklist
Calculator
VA one-time close calculator
Model the land, build, contingency, funding fee, and permanent principal-and-interest payment while you complete the worksheet.
Open calculator
Builder guide
VA construction builder resources
Review the contractor approval, project approval, underwriting, draw, and completion requirements.
View builder guide
Start the review
Get pre-qualified
Begin your financing review while the builder, plans, contract, and project budget are being organized.
Start your review
VA construction budget questions
What costs belong in a VA construction budget?
We include the land purchase or existing lien, site work, plans, engineering, permits, builder contract, allowances, and contingency. We then add the construction interest, insurance, inspection costs, title updates, approved closing costs, and completion items that apply to the project. The itemized total must match the signed construction agreement and the plans and budget we approve.
Is land equity entered as a construction cost?
No, documented land equity is a financing credit rather than another project expense. Enter the land purchase or current lien in the budget, then document ownership, liens, acquisition timing, original cost, and appraised land value separately for the loan calculation and funding-fee review.
Can every construction cost be financed into the VA loan?
No, the worksheet does not decide how much can be financed. Before we give you that answer, we review the project cost, your entitlement, the finished-home appraisal, and which charges the loan allows. Under PBT’s current construction guidelines, the $425 project review fee and the final inspection or survey are paid separately instead of being added to the loan automatically.
What happens to unused contingency or construction funds?
We reconcile any money left in the construction account when the home is complete. Unused contingency is not paid to you as cash, and we do not promise an automatic principal reduction before the final project accounting is complete.
Does the project budget have to match the construction contract?
Yes, the itemized construction budget must match the total amount in the fully executed construction agreement. A change to either document can require updated project approval.
What contingency should be included?
Our current program requires a 5% contingency based on construction costs. We reconcile any remaining construction funds during the final modification instead of paying them to you as cash.
Should draw fees be included in the budget?
The budget should include the construction draws and the related inspection, title, and administration fees. Those amounts can change with the project, so we confirm the final figures before closing.
How is the construction interest reserve calculated?
Interest is estimated from the changing outstanding loan balance as the initial and scheduled construction draws are released. The required budget amount is the calculated interest rounded up after adding a 20% cushion.
Review the complete budget before closing
Use the callback form or call 888-435-7315. A VA construction specialist will call first, answer your initial questions, and provide the secure application and project-document instructions when you are ready.
Last reviewed July 20, 2026.