How to Use a VA Home Improvement Loan
Veterans can use a VA Home Improvement Loan to improve an existing home. Many veterans are unaware of this awesome opportunity. These type of loans are guaranteed by the Federal Government to lenders who offer home upgrade financing. This gives veterans a chance to upgrade their current home. This is really not a loan but a loan guaranty process. Why is that? Since the VA is really not a lender or a bank, they do not do the loans. But they do guaranty full repayment of the loan. The cool thing about this is it reduces the risk. Thus the lending institution can offer more reasonable rates. Consider the advantages of a VA home improvement loan: A cash down payment is not required No pre-payment penalties Veterans are sure to get better mortgage rates Easier qualification requirement than trying to do this with a conventional loan Increase the energy-efficiency of the home Here is a list of those energy-efficient home upgrades that can be covered by a VA Home Improvement L...