If you are a veteran, then you should be aware of every type of opportunity that can benefit you and your family. You probably know about the military discount at your favorite local restaurants, but do you know about the ones available that can save you hundreds of dollars instead of just a few bucks on a cheeseburger? There are great programs available for real estate transactions that can save you hundreds.
Most veterans know about VA mortgages, but many do not know about VA renovation loans. These renovation loans give a major advantage to veterans whether they are buying a new home or would like to renovate their current home. Especially for those purchasing a home, these loans can help you afford upgrades on a property that needs a bit of work but is listed at a great price. You will have the ability to take a house you like and turn it into a home you will love with a VA renovation loan!
VA Renovation loans are very flexible for many different types of projects. Some examples of these projects are:
- Aesthetic Improvements
- Individual Room Enhancements
- Flooring Updates
- Plumbing Upgrades/Additions
- Additions for Handicap Accessibility
- Wheelchair Access Ramps
- Expand and Widen Showers
- Lower Countertops
- Build A Handicap-Accessible Bathroom
- Upgrades of All Major Free-Standing Appliances (First Time Home Buyers Only)
There are also financial benefits that many veterans are unaware of. The biggest advantage is the low-interest rates in comparison to private lending options. In addition, purchase or refinance combined with cash out is permitted. Furthermore, the appraised value will be based on the completion of the renovations. This is a great incentive because you build instant equity on your property.
If you are interested in learning more about VA renovation loans, then give Mr. Renovation a call! He will be happy to provide both basic information about the program and specific guidance for any property you already have renovation ideas for.