VA Renovation Loan (Buy a Fixer-Upper with VA)
The VA does allow a fixer-upper purchase via either the VA Renovation Loan (single loan covering purchase + repairs up to ~$50K) or the VA Energy-Efficient Mortgage (up to $6K rolled into the loan for energy upgrades). Most lenders don't advertise either — you have to ask for a "VA reno" specifically.
How to access
Restrictions
Big-bank loan officers usually steer you to FHA 203(k) instead because it's what they know. Find a lender that actively does VA renovation loans (Veterans United, Freedom Mortgage, AFR Wholesale). Repair work must be completed within 120 days by VA-approved contractors.
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