VA rehab loan

[Anonymous]

Hello everyone,

I'm due to return home by the end of the month. I have been contracting for the military for the last year and some change in Africa and I'm ready to buy my first home. I just ordered my new scores and my middle score is 641. I've been looking for fixer-uppers in the Houston area. Does anyone know any rehab VA lenders that they can point me to? Originally I was working with Veterans United months ago but now I don't meet their 660 across the board scores. I'm finally doing AZEO and my last CC will be updated around the 25th of this month. Also originally I was approved for 250k. I'm trying to stick somewhere in that range.

[VALoanMaster]

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@Anonymous wrote:

Hello everyone,

I'm due to return home by the end of the month. I have been contracting for the military for the last year and some change in Africa and I'm ready to buy my first home. I just ordered my new scores and my middle score is 641. I've been looking for fixer-uppers in the Houston area. Does anyone know any rehab VA lenders that they can point me to? Originally I was working with Veterans United months ago but now I don't meet their 660 across the board scores. I'm finally doing AZEO and my last CC will be updated around the 25th of this month. Also originally I was approved for 250k. I'm trying to stick somewhere in that range.

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Hi @Anonymous,

Unfortunately VA recently issued a Circular that basically shut down the VA renovation program for the foreseeable future.

https://www.benefits.va.gov/HOMELOANS/documents/circulars/26_20_13.pdf

10. Alteration and Repair Loans. Appraisers are to suspend any alteration and repair assignments until further notice.

[Anonymous]

@VALoanMaster Thanks for that great info. I guess my plan is nixed for a while, but I don't like "until further notice". Guess its time to look at homes that's turn-key already.