Introducing the VA Renovation Loan: What You Need to Know
Blog posted On May 15, 2025
Exciting news for VA home buyers and homeowners! We’re thrilled to now be offering our newest product, the VA Renovation Loan. Qualifying buyers can now renovate their home with 100% financing. Let’s go over a few of the highlights below.
VA Reno Highlights
- Owner-occupied purchase & refinance transactions eligible
- LTV up to 100%
- Various loan term options available
- All repairs must be completed within 75 days of funding
- Can include the costs of home purchase and renovations into one loan
- Upgrades can be remodeling and non-structural repairs
Explore Your Renovation Possibilities:
- Roof, gutters, down spouts
- HVAC
- Plumbing and electrical work
- Flooring
- Kitchen or bath remodel
- Purchase & installation of appliances
- Weatherization
- Accessibility improvements
- And so much more!
Eligible Borrowers
- Veterans
- Active-duty military
- Reservists
- National Guard
- Surviving spouses
In case you don’t qualify for our new VA Renovation Loan, we offer many more renovation options tailored to your specific needs as a borrower! Truly, our renovation financing options can fulfill all kinds of needs, between home buyers looking to eliminate repair issues, homeowners looking to enhance the value of their home, investors wanting to rehab their properties, and even for real estate agents and builders looking to grow their business.
Here’s a few of our renovation options below:
- FHA 203(k) Standard – This FHA mortgage combines the costs of a home purchase (or refinance) with the costs of home renovations, allowing phased payment schedules and structural changes
- FHA 203(k) Limited – Similar to the 203(k) Standard loan, the differences for the 203(k) Limited are as follows: structural changes are NOT allowed, there is a $75,000 repair maximum limit, and the payment schedule is stricter
- Fannie Mae HomeStyle® Renovation – Fannie Mae’s conventional renovation loan, providing flexible and affordable financing options for making repairs, adding accessory dwelling units, and funding landscaping renovations
- Freddie Mac CHOICERenovation® – Similar to Fannie Mae’s HomeStyle®, Freddie Mac’s renovation loan allows qualifying buyers a way to use loan proceeds to pay for renovations
Are you a Veteran, looking to make updates to your existing home? Or are you a qualifying FHA borrower, hoping to bundle the cost of your new fixer-upper home with the funds needed for renovating the property? Regardless of your situation, we’re here to help you obtain homeownership, whether it’s through our brand new VA Renovation Loan or our other renovation options above.
Source: VA, Fannie Mae, Freddie Mac
