We care about giving our veterans more options when it comes to purchasing their ideal homes. That’s why we offer VA Renovation Loans. Our unique loan gives our veterans more purchase power. Read Natalie’s story.
When Natalie Lezama left the military after serving in the Army as an air traffic controller, she wanted to use her service benefits to accomplish two goals: to find a compatible civilian job and to eventually use her VA benefits to buy a home. Soon after her discharge, she found employment as an air traffic controller for the Department of Defense. Later, after her job allowed her to settle in her home state of Florida, she started looking to buy her dream home.
Natalie began working with a lender who was recommended by her real estate agent. But after a six-month search for homes in Jacksonville, Natalie concluded that most of the homes were older and needed significant renovation.
“The homes we found were not energy efficient and needed a lot of upgrades,” said Natalie. “And unfortunately, this lender told me a VA renovation loan was impossible. So to get funds to do repairs, I would have to apply for a loan that did not include my VA benefits and I wasn’t prepared for that.”
Fortunately, in the early stages of Natalie’s independent internet-based home search and loan research, she recalled seeing a VA renovation loan — one loan that combined the benefits of a VA loan with the ability for renovation and upgrades. Her current agent and lender had no knowledge of such a combination, but Natalie stayed the course and continued to investigate the possibility of a VA renovation loan.
Natalie’s diligence paid off. In an internet forum about VA loans and renovation, she found a comment about a company that could solve her dilemma: imortgage. Now armed with a company name, Natalie discovered the imortgage web page of Regional Renovation Sales Manager John Adams, located in Jacksonville, Florida. The website confirmed that the VA Renovation loan did, in fact, exist. Natalie was so excited that instead of picking up the phone, she got in her car and drove to see John.
“When I arrived, John answered all my questions,” Natalie said. “He was very positive. He brightened my day and reassured me that this was something we could do. After days of searching for a solution, I was relieved. I walked out of his office pre-approved and with a smile on my face.”
Natalie said this meeting gave her the confidence she needed to find the perfect home for her budget.
The imortgage VA Renovation Loan
Natalie may have had a hard time finding information about the VA Renovation mortgage because not very many people know about it. But John Adams and the imortgage team are trying to get the word out.
“We have come up with our own process to comply with VA standards and create options for veterans,” said John. “Today, veterans are coming home to a lack of inventory. Much of the choice is between new construction and homes that need some sort of repair. The VA Renovation Loan gives veterans who otherwise can’t find an affordable home more options and choices for finding a property they can make into what they want.”
It’s great to be able to offer veterans an opportunity that expands their search to homes that may have otherwise been out of reach, said John. Now veterans can expand their search to homes that may have otherwise been out of reach.
Features of the VA Renovation Loan include:
• Up to three months to complete repairs
• Available on single-family and multi-unit properties
• 100 percent financing available
• Up to $35,000 available for property improvements
“The VA Renovation Loan was perfect for Natalie’s situation,” John said. “She was able to make an affordable house into her dream home. Otherwise, she wouldn’t have been able to afford it if it were already fixed up and carrying a price tag above her budget.”
Natalie plans to remodel the kitchen and put new flooring in throughout the house. She’s been so satisfied with the imortgage service that she has referred three other veterans to John to discuss the VA Renovation Loan.