Question:

What can I use a VA home improvement loan for?

Answer:

The VA not only allows eligible borrowers to attain homeownership, but also offers a VA home improvement loan program to improve existing residences.

A VA home improvement loan can be used for energy efficient improvements.

Insulation, solar powered systems, advanced energy-saving heating/cooling systems and any other improvement to reduce energy consumption in the long run could be approved by a VA lender. Improvement of plumbing systems, roof replacing and new air-conditioning are also examples of projects to be considered for energy efficient VA home improvement loan.

VA home rehab loans are easy to get.

For home rehabilitation costs less than $3000 you only have to present the lender with the receipt. For bills larger than $3000 and less than $6000, the VA loan applicant may present evidence of utilities bills reduction over time.

Also, eligible applicants may take more than one VA home improvement loan - VA loans may be extended for either energy efficiency improvements, or for general home rehab.

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Common misspellings: mortage and morgage