Renovating a Home

Have your heart set on a house that could use a little work? Get the financing you need with help from a VA Renovation Loan.

With a VA Renovation Loan, you get all of the benefits of a traditional VA Home Loan with the added bonus of covering your renovation costs with the same loan. One loan. One application. One monthly payment. In the long run, you save money in comparison to taking out two separate loans to complete your project.


When it comes to getting a VA Renovation Loan, a few things are different than a standard VA Home Loan. The main difference is that only veterans can qualify for a VA renovation loan. The home must be owned, occupied, or purchased by an eligible veteran.

Veterans in all branches of the military can apply for a VA Renovation loan. That includes retired, reservist, discharged, and active-duty members of the Navy, National Guard, Marines, Coast Guard, Army, and Air Force.


When you apply for a VA renovation mortgage, there are a few things to keep in mind. First, your VA renovation loan can be financed over 30 years leading you to a lower monthly payment.

Since a VA Renovation Loan is rolled into your mortgage, you can get a better deal than if you had gotten a supplemental loan. Why? Because by rolling the renovation loan into your standard loan you will have one mortgage rate and one monthly payment. If you have two separate loans, you run the risk of the second mortgage being charged at a higher rate.

You can also get a VA Renovation Loan for a home you already own. This will allow you to make any upgrades or repairs to your current residence, including electrical, plumbing, structural issues and more. However, there are a few limits. For instance, a VA Renovation Loan will not cover projects like putting in a pool, building a patio, or adding more rooms.

If you’re an eligible veteran and are ready to make repairs to your home, PrimeLending, a PlainsCapital Company® is here to help. A dedicated VA renovation loan expert can guide you through the process from application to closing. Get started today.


*All lender closing costs such as origination, processing, underwriting, and closing will be waived, borrower is still responsible for third party fees such as VA funding fee, title, and appraisal etc.  Down payment waiver is based on VA eligibility. This offer is valid until 12/31/2022. Savings only applies to direct originations made by PrimeLending for first mortgage purchase or refinance transactions, and is not available on loans obtained through mortgage brokers. Only one offer per loan transaction is available, and savings cannot be combined with any other offer. Savings will reflect on Closing Disclosure at closing. Borrower must lock their loan before 12/31/2022.

Written By Becky Bruning