VA Renovation Loan General Guidelines
- Purchase & Refinance allowed
- Maximum 100% LTV allowed
- Allowable repairs both structural & non-structural
- Cosmetic Renovations allowed up to $35k Total Renovation Costs
- Consultant/Inspector Required for Structural Repairs or $35k+ Total Renovation Costs
Benefits of a VA Renovation Loan
- Up to 1-4 units Properties allowed (lender discretion
Renovations must be completed after closing within 3-4 months (lender discretion) - No Minimum Renovation Budget is required (lender discretion)
- Appraisal – May require After Improved Value only or both After Improved and As-Is Value (lender discretion)
- 2-3 Contractor Draw Payments allowed (lender discretion)
- Minimum 10-20% contingency required for additional health and safety issues (lender discretion)
