Buying a home that requires a little TLC can often be cheaper than buying a home that doesn’t need any work, but paying for those repairs can be difficult. Luckily, if you’re a member of the military or served in the past, there’s a great way for you to finance renovations.
If you’re eligible for a VA loan, you can purchase and repair a fixer-upper with a VA rehab (also called a VA renovation) loan, which lets you roll repair costs into your mortgage.
What is a VA renovation loan?
A VA renovation loan is a type of mortgage that