"If you're a qualified service member, veteran, or surviving spouse looking to buy a home that needs work-or renovate the home you already own-a VA renovation loan (also called a VA rehab loan) may be an option. This program lets you finance the mortgage and repairs together, rather than applying for a separate construction or personal loan. Whether you're searching for a home in San Diego, CA or planning updates to a property in Virginia Beach, VA ,"
"A VA renovation loan is a government-backed mortgage that allows eligible borrowers to finance both a home purchase (or refinance) and the cost of qualifying renovations in one loan. Like standard , it offers 0% down for most buyers, no PMI, competitive rates, and flexible credit requirements-but with added allowances for upgrades. Key highlights: Combines purchase price + renovation costs into one loan Requires VA-approved contractors (no DIY work allowed) Renovations must improve the home's safety, function, or livability Not all lenders offer this program and underwriting is more specialized Total renovation costs are typically capped, depending on lender standards"
VA renovation loans allow eligible service members, veterans, and surviving spouses to finance a home purchase or refinance plus qualifying renovation costs in a single mortgage. These loans typically offer 0% down for most buyers, no PMI, competitive interest rates, and flexible credit requirements while accommodating necessary upgrades. Renovations must improve structural integrity, safety, or essential systems; cosmetic work is only funded when paired with required repairs. VA-approved contractors must perform the work. Not all lenders offer the program, underwriting is specialized, and total renovation costs are often capped. Common eligible projects include roof, foundation, HVAC, plumbing, and electrical repairs.
Read at Redfin | Real Estate Tips for Home Buying, Selling & More
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