VA loans make homeownership possible for thousands of veterans and military service members every year.
The loans have no down payment or mortgage insurance and often have lower mortgage rates than other home loans.
With this option, you're not limited to homes that already meet the VA's minimum property requirements. You can use the repair money to bring the home up to the VA's standards
If you already have a home that needs TLC, a VA renovation loan may be worth considering. Be aware that lenders may charge a construction fee of up to 1% or 2% of the VA renewal loan amount.
You can roll the cost of energy efficiency improvements into a VA purchase or refinance loan Acceptable improvements include things like thermal windows insulation and solar heating or cooling systems
More than $3,000 up to $6,000: The lender will review your plans to make sure the increase in monthly mortgage payments won’t exceed the estimated reduction in monthly utility bills.