Buy It, Fix It, One VA Loan.
Finance the purchase and the repairs together, using the VA benefit you already earned.
Buy a home that needs work without paying for the work out of pocket
The purchase and the renovation are financed together in a single VA loan.
- The purchase price and the cost of the repairs are financed in one loan.
- Available to eligible veterans, active-duty service members, and surviving spouses.
- The home must be your principal residence.
- Fixed-rate terms of 10, 15, 20, 25, and 30 years.
- The work is valued using the lesser of the acquisition cost or the as-completed appraised value.
- If the home is in an HOA, the association must approve the renovation work in writing.
Principal residence only
Purchase and repairs in one loan
Fixed terms from 10 to 30 years
Uses your VA entitlement
As-completed appraisal required
HOA approval required where applicable
What is the Saxton VA Renovation Loan?
A VA purchase loan that also pays for the repairs the home needs.
Plenty of homes on the market are sound but dated, and a standard purchase loan will not hand you money to fix them. A VA Renovation loan closes that gap. You finance the purchase and the improvement work in the same loan, so you are not paying for a new roof or a kitchen out of savings right after closing.
The appraiser looks at the home twice, in a sense. The value used for the loan is based on what the property is worth once the planned work is finished, and the amount available for the work is limited to the lesser of the acquisition cost or that as-completed value.
It has to be the home you live in. This program is for a principal residence, not a rental or a vacation property. If the home sits in a homeowners association, the HOA has to sign off on the renovation work in writing before it can proceed.
Why choose the Saxton VA Renovation Loan?
Built for buyers with VA entitlement who found the right house in the wrong condition.
One Loan, One Closing
The purchase and the repair money come from the same loan, so you are not stacking a second loan on top of your mortgage to get the work done.
Your Earned Benefit
This uses the VA entitlement you already have. For loan amounts over $144,000, the guaranty is 25 percent of the loan amount.
Valued As Completed
The appraisal reflects what the home will be worth after the work, not just what it is worth the day you walk through it.
Dated Homes Become Options
Houses other buyers scroll past because of the condition become realistic for you, which matters in a tight market.
Flexible Terms
Fixed-rate options run from 10 years up to 30, so you can weigh a faster payoff against a lower monthly cost.
The Work Is Scoped Up Front
The repair budget is documented and valued before closing, so there is no ambiguity about what the loan covers once the work starts.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about buying a home that needs work with your VA benefit.
Yes. The purchase price and the cost of the approved work are financed together in one VA loan, so the repair money is built into the mortgage rather than coming out of your savings.
The work is scoped and valued before closing, and the appraisal is done on an as-completed basis. What matters is that the finished property supports the loan, not that the home is move-in ready the day you tour it.
No. This is for a principal residence. The program is built around the home you are going to live in.
It is based on the lesser of the acquisition cost or the as-completed value determined by the appraisal, so the work has to make sense against what the home will be worth when it is done.
The homeowners association has to approve the renovation work in writing before it can go ahead. That is worth checking early, because it can affect your timeline.
Fixed-rate options of 10, 15, 20, 25, and 30 years.
Your entitlement determines the guaranty behind the loan. For loan amounts above $144,000, the guaranty is 25 percent of the loan amount. We can walk through what your remaining entitlement supports.
Find out what you qualify for
Whether you have found the house already or you are still looking at listings that need work, there is likely a path here. Let us look at your entitlement and what the property needs.
Get Pre-Qualified- Department of Veterans Affairs, eligibility for VA home loan programs
- Department of Veterans Affairs, VA home loan types
- Department of Veterans Affairs, VA funding fee and closing costs
*Loan amounts, rates, terms, and repair budgets are subject to credit approval, income and asset verification, appraisal, and program eligibility. VA renovation financing requires the property to be your principal residence and the completed work to be supported by the as-completed appraised value. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.