Understanding the Costs of a VA Renovation Loan

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Thinking about using a VA renovation loan? It's essentially a home loan that wraps the purchase price and the cost of repairs or improvements into one mortgage, so you don't have to apply for separate financing. The key is understanding what work qualifies and how the money gets disbursed. I found that lenders typically require licensed contractors for any renovations, and the total loan amount is capped at the home's projected value after improvements. Just remember, you'll need to factor in t…