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VA Home Improvement Loan

by Darcy C
(Newark, Ohio USA)

I have read various VA pages of information regarding VA Home Improvement, on one I did read about adding on a 2 car garage. What we need is more house as we have expanded our family by adopting 3 foster siblings. We need to add on 2 to 4 bedrooms, laundry room and a bath plus update our windows in our current home. We owe nothing on our home it is paid for and the insurance company has it insured for $156,000.00. I guess my question is, if we meet all requirements as far as VA goes as my husband was in the navy for 4 years, do you give loans for the type of loan we need?

Thank You,

Mrs. Robert E. C


Hello Mrs C.

Thank you for visiting my website and asking your questions. The details you gave me are a little vague, but I will make some assumptions and try to answer your questions the best I can.

First and foremost, I’m not a lender. At one time I was a loan officer for a large national bank and helped many families buy and refinance homes across America.

That is why I have this website. But since I found there is not much of a site out there for people like yourself, I left it up and still try to help people through my blog. I sell advertising on my site now and I also get paid when people apply for a home loan from Lenders that advertise here.

I will make the assumption that your credit and income are in good shape. Otherwise you would not likely have a home that is paid off.

So you want to add onto the home to make room for more people. You want to use the VA home loan program to do this since your husband was in the Navy.
The first thing you want to do is apply for the VA Certificate of Eligibility. Once you have this in hand, you are ready to move forward and apply for the VA Loan.

You would no doubt qualify for a cash out refinance using the VA loan program. This would likely be your best bet since you will be borrowing a rather large amount of money given all the work you want to do to your home.

By using a refinance loan you can lock down your interest rate as a 30 year fixed rate. The other option would be an equity loan but VA does not offer them plus they are a variable rate.

Here’s a quote from the VA website
"VA's Cash-Out Refinance Loan is for homeowners who want to take cash out of your home equity to take care of concerns like paying off debt, funding school, or making home improvements. The Cash-Out Refinance Loan can also be used to refinance a non-VA loan into a VA loan. VA will guaranty loans up to 100% of the value of your home.”

So the best thing you could do is apply and ask for a VA Cash Our Refinance loan. It would be wise to have an idea of how much you will need by getting estimates etc.

I hope this answers your questions. If not feel free to respond to this post.

Please like, share or comment on this website if you feel the personal attention was helpful.

I wish you, your husband and your new extended family the best!


Jeff Ragan

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