VA Renovation Loans For Veterans Now Available


Jimmy Sgambelluri

Sr. Mortgage Banker

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Article written by:  Jimmy Sgambelluri
May 17, 2017

VA Renovation Loans For Veterans Now Available

May 15, 2017 by Jimmy Sgambelluri

VA Renovation Loans:  The wait is finally over.  If you are eligible for a VA home loan, you are now able to renovate the home you are purchasing or your existing home secured with a VA mortgage.


Joe & Marta just renovated their home with a VA renovation home loan.

Use this loan to combine The Cost Of your renovations and your mortgage into one.

VA Renovation Loans Combine The Cost Of Your Home Purchase Or Refinance With Home Improvement Financing Into One Loan And Closing.

This brand new loan product provides a convenient way for eligible veterans to make renovations, repairs, or improvements of the "as completed" appraised value of the property.  Until now you had to use the present value  of your home in order to make any improvements.

We simply get a contractor estimate and submit the estimate to the board certified VA Appraiser.  The appraiser will add the improvements to the appraisal and determine a value "after completion" for the mortgage lender.

Learn more about the renovation process by grabbing our Free 22 Page Renovation Guide here.

va renovation loans

Veterans can combine the cost of renovating and their mortgage into one loan.

Using your VA eligibility to get a renovation loan will simplify the process by eliminating the need for a 2nd mortgage, a HELOC, or other costly financing option.

While VA rehab loan program is a great for a lot of Veterans, but it may not be a perfect fit for everybody.  Some improvements and repairs are not permitted.  The list of both Allowable Repairs and Non Allowable Repairs is located below.

What Repairs & Improvements Can I Do Using VA Renovation Loans

Allowable Repairs
  • Roof: Repair or Replace
  • Gutters / Downspouts:  Install / Repair / Replace
  • Insulation:  Ceilings / Walls / Asbestos Removal
  • Siding / Windows / Doors
  • Paint:  Interior / Exterior / Lead Paint Abatement
  • Kitchen:  All Appliances / Cabinets / Total
  • Electrical:  Repair / Replace / Recondition All
  • Plumbing:  Repair / Replace / Recondition All
  • Repair / Replace HVAC or Other Systems
  • Repair / Remove In-Ground Swimming Pool
  • Installing or Repairing Fences, Walkways, & Driveways
  • Repair / Replace Flooring, Sub-flooring, Tile, Carpet, Hardwood Floors
  • Termite Treatment / Damage Repair
  • Repair / Replace / Recondition Well & Septic
  • Foundation Repair
  • Weatherization items / Repairs / Improvements

Non-Allowable Repairs
  • Detached Garages
  • Repairs Performed By The Veteran
  • No Swimming Pool Installations. Repairs Are OK.
  • Improvements that do not conform to the surrounding neighborhood.
  • Any new construction including room additions.
  • Landscaping or similar site improvements.
  • Rehabilitation activities that require more than 2 payments per specialized contractor.
  • Major rehabilitation or Major remodeling
  • Require plans or architectural exhibits
  • Television Antennas and Satellite Dishes
  • Results in work not starting within 30 days after loan closing
  • Borrower is unable to occupy at closing or within 30 days
va renovation loans

This loan will offer veterans more options when purchasing a home.

Most projects are fairly clear and straight forward, however, there can be some hurdles.  Listed below are the hurdles that could most likely become a nuisance.

Project Maximums

  • Maximum time to completion = 90 Days
  • Maximum Repairs: 25% of after completed value
  • 41% Debt To Income ratio (No Exceptions)

Eligible Properties

  • Single Family Homes
  • Detached Condominium's that are approved by the VA
  • Planned Unit Developments
  • Townhomes

Got questions or need more information on VA Renovation Loans, Simply post a comment below or, contact Jimmy Sgambelluri today by calling 757-287-4098.

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About the Author

Hi, I am Jimmy Sgambelluri, a mortgage loan officer with an undeniable commitment to providing simplicity and clarity to the mortgage process.

You will find that I truly enjoy helping consumers and real estate agents navigate the mortgage maze.

As a Virginia based mortgage professional with over 20 years lending experience, I can help simplify the mortgage process for your family.

When you need somebody with integrity, deep expertise, & resources in the mortgage industry you have found the right person.

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