Ready to improve your home?
We may be able to help with VA Renovation Loans, FHA 203k Loans, and Homestyle Renovation Loans.
VA Renovation Loan
When a home doesn’t qualify for VA financing, a VA renovation loan may help open up other lending solutions. There is a tremendous buzz around VA Renovation Loans today. They are similar to an FHA 203K repair loan but available for eligible VA beneficiaries (active duty or prior military). Many people don’t know these loans exist. Some naysayers even refute the program’s existence. According to the VA Handbook 26-7, The Alterations for Improvement and Repair Loan Program ( VA Renovation loan) it is possible for a veteran to use their benefit to buy and include material and labor repair costs. Other lenders are starting to offer a VA Renovation products with limited capabilities. Research the facts on what you are being served and rely upon experience in this lending space.
What you should know about
VA Renovation loans:
- VAvailable for single and multifamily properties
- VUp to 100% financing available
- VRepairs needed for livability
- VRoofing repairs
- VFlooring replacements
- VHVAC (heating and cooling systems)
- VAppliance improvements
- VBathroom and kitchen remodeling
- VAdditions and more