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A contractor fixes a home. (U.S. Navy/Mass Communication Specialist Seaman Apprentice Lydia Torres) Three Creeks Media | By Erik J. Martin
You’re a service member or veteran eager to purchase a home. But you’re on a tight budget and likely will need to buy a diamond-in-the-rough property you can rehab. Where can you turn for financing?
The Department of Veterans Affairs (VA) has a renovation loan that funds a home’s purchase price as well as the cost to repair it into one fully amortizing, fixed-rate mortgage. You won’t have to pursue two separate financings one for the mortgage and one for the renovations.