VA Renovation Loans for distressed and dated properties
Veterans can buy distressed real estate using their VA benefit. An exclusive product at imortgage for veterans today is available for VA renovation lending. Veterans can buy a home in almost any condition and deal with repairs after closing with this product. Many agents and customers alike have had the question: ”is there a 203k loan for veterans?”. The answer was no for so long but there is a lender participating in this VA program!
Jacksonville and other areas where we are in Florida have a lot of military bases. This includes active and retired veterans who have a VA benefit to use and want to participate in the distressed property market. This now allows veterans to buy homes that would otherwise be out of reach for VA financing. Similarly to FHA 203k and Fannie mae homestyle they can purchase and renovation the home inside of one purchase loan. Currently imortgage is the only lender participating in a VA renovation loan. This product will allow you to deal with cosmetic issues. Items like roof, AC, wood rot and termite damage that would otherwise prevent VA financing is possible with this product and allow the veteran to look at home to buy and renovate with built in equity. Please call us if you or someone you know could use out help in obtaining this solution.