VA Renovation Loan Basics

Dated: February 8 2019

Views: 145

The VA Renovation Loan makes it possible to finance both the purchase or refinance of a home and the cost of repairs or updates in one low rate, first mortgage loan.

The VA Renovation Loan brings together some of the most innovative and attractive features of several popular mortgage programs. It provides no money down financing that covers not only the current value of the property, but the cost of remodeling and repairs as well.

This program is intended for minor updates and work done on the home at a cost under $35,000, with no minimum renovation cost requirement.

VA Renovation Loan Basics

Purchase and Refinance Options
Used to finance minor remodeling and non-structural repairs
There is no renovation consultant requirement
Fully Amortizing
Fixed Rate 10 year, 15 year, 20 year, 25 year, and 30 year term options
One or Two Unit Homes
Primary Residence Only


What are the benefits?



100% Financing


VA mortgages offer one of the only no money down home financing options available in the marketplace. This is a huge advantage to qualifying veterans, military personnel, and their families, who can become homeowners without waiting many years or depleting their savings.

Low Mortgage Rates

The VA Renovation Loan makes it possible to finance both the purchase or refinance of a home and the cost of repairs or updates in one low rate, first mortgage loan. This can offer considerable savings when compared to a higher rate second mortgage, using other types of credit such as credit cards, or a home equity line of credit with a variable interest rate that could increase over time.

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Kenneth Manesse

Helping you experience something new in Las Vegas that's guaranteed. Real Estate with less stress!....

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