VA Loans Explained: Buy, Renovate or Build a Home
A VA home loan can help eligible veterans, service members and some surviving spouses buy a home, renovate a home that needs work, or build a brand-new one. I'm Lisa Stepp-Seritt, a mortgage loan officer with 25 years of mortgage experience, and I help veterans and their families in Tennessee, Florida, Pennsylvania and Ohio understand their VA benefit and take the next right step. Thank you for your service.
Who is eligible for a VA home loan?
Veterans, service members and some surviving spouses who qualify for a Certificate of Eligibility (COE) and meet VA and lender credit and income standards.
What is a Certificate of Eligibility (COE)?
Your COE shows a lender that you have the VA home loan benefit. You can request it on VA.gov, or I can help you get it as part of your application.
Does a VA loan require PMI?
No. VA-backed loans do not require private mortgage insurance (PMI). For many eligible borrowers, no down payment is required, subject to VA eligibility and lender approval.
What is a VA renovation loan?
A VA renovation loan, also called an alteration and repair loan, lets you buy a home and include repair costs in one loan. A licensed, insured contractor bids the work, the home is appraised as completed, and repair funds are paid out as the work is finished and approved.
What is a VA construction-to-permanent loan?
It's one loan with one closing. It covers building your new home and then becomes your permanent mortgage when the home is finished. The builder is paid in stages with your written approval.
Can I use my VA loan more than once?
Yes. It's a lifetime benefit you can use again when your entitlement is available or restored.
Read the full VA loan guide
VA Loans Explained: Buy, Renovate or Build a HomeTalk with Lisa about your VA options
With 25 years of mortgage experience, I'll walk you through your COE and whether buying, renovating or building is the right fit.
Office: 865-352-8222
Lisa Stepp-Seritt, Mortgage Loan Officer, NMLS #680403 | Mpire Financial NMLS #2108504 | Licensed in TN, FL, PA and OH | Equal Housing Opportunity. Not a commitment to lend. All loans subject to credit approval and VA eligibility. Programs and guidelines subject to change. Not affiliated with or endorsed by the VA or any government agency.