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VA Renovation Loans

VA Renovation Loans

VA renovations loans are available to veterans who are eligible for VA loan benefits. 

This renovation loan program allows you to buy a home with no down payment and make repairs with a single loan.  You can buy a home that needs work, update kitchens and bathrooms, or even add a pool or outdoor living space.

The VA renovation loan allows up to $50,000 for repairs and improvements.  Work must be completed within 120 days of loan closing.  The $50,000 maximum budget must include all fees and a contingency reserve for unexpected costs.

Below are some guidelines on eligible improvements.  

  • All alterations and repairs must be permanently affixed to the property (dwelling or land) and be ordinarily found on similar properties of comparable value in the community.
  • Project must be complete with the final inspection no later than 120 days from the note date.  The note date is the date on your promissory note signed with loan documents.
  • The maximum renovation amount, including fees and contingency, must not exceed $50,000. There is no minimum dollar amount for the repairs.
  • Repairs should be non-structural although minor structural repairs are allowed.
  • Any work that requires structural engineering reports or architectural specs is not allowed.
  • If any structural work is included, building/construction jurisdictional evidence that the project does not require engineer reports or architectural specs must be provided. e.g. local code pertaining to the type of structural repair, permits and/or other written verification from the local jurisdiction. (state, city, municipality or county)
  • Minor structural repairs must be those that can reasonably be expected to be completed within the 120 day time frame.
  • If structural repairs are included, the contractor’s bid must include a statement addressing the fact that all structural repairs do not require engineering or architecture reports to obtain permits or meet local building codes and that such work will be completed within 120 days.
The VA Renovation loan is available on the following property types that have been built more than 1 year ago.  All properties must be owner occupied.

  • Attached or detached single family residences
  • Attached or detached PUDs (homes in a planned unit development)
  • VA approved condos
  • 2-4 Unit Properties
  • Double wide or larger manufactured homes classified as real property, and built after June 15, 1976.  Must be attached to a permanent foundation and land must be owned. *Structural changes are NOT permitted on manufactured homes.  Home may not have been previously moved from a different location.