Very few Veterans are aware that this option is out there. It works just like and has all the benefits of the normal VA loan, but also allows for repairs to the home to be financed into the loan and complete after closing. Now the VA will not allow for structural items or luxury improvements such as a swimming pool, but anything that helps protect or improve the livability of a property are allowed. Here are some of the highlights of the program:
This is a great program vets and allows for things like finishing a basement, remodeling a kitchen or bathroom, and plumbing or electric upgrades. There are so many home possibilities out there with this loan program.
Since COVID hit, the housing market has been crazy! With housing in high demand, the competition is getting tough out there. Buyers are looking for alternative ways to buy a home and many have turned to renovation financing. In fact, our renovation volume has tripled so far in 2021. There are a number of reasons for this, but essentially, home renovation loans offer a number of advantages for want-to-be home buyers.
Here are some of the reasons more and more buyers are utilizing these loan programs: