VA RENOVATION LOANS FOR VETERANS AND THEIR FAMILIES
With move-in, ready homes being at the top of many homebuyer’s budgets and fixer-uppers requiring additional tens of thousands of dollars for renovations finding the perfect home within your budget can seem like an impossible task. Even if you are ready to take on a fixer-upper locking down a operate loan for renovations can be costly and time-consuming.
VA renovation loans take much of the extra work needed to secure a separate loan for renovations our of the equation. VA renovations loans allow veterans and their families to apply for up to an additional $35,000 on their home loan for renovations, improvements, and repairs. This is an amazing option for Veterans looking to purchases a fixer-upper as it allows for renovation costs to be covered under the same unbeatable interest rates that can be acquired with a standard VA loan.
The VA renovation loan is offered to help a home on the market reach the standards required to qualify for loan financing under a standard VA home loan. Due to the fact that the extra amount added to the base loan will be utilized for repairs and improvements acquiring a VA renovation loan can be somewhat challenging. With years of experience assisting Veterans and their families acquire a VA loan Mansfield Mortgage can help navigate the many steps needed to add on the renovation loan