How to Get a Veteran's Administration Home Improvement Loan

Conceived in 1944, the Federal Government's VA Home Loan program has distributed millions of home improvement loans to individuals who served in the armed forces. If you're a veteran and meet certain requirements, you may be eligible for the loan.

Instructions

1. Prove military service and that you are indeed a veteran to be eligible for a VA home improvement loan. Serving in the National Guard or the Reserves for a required number of years will also leave you eligible for this loan.

2. Reside in the state in which you are applying for the loan. You will need to supply proof of residency to get a VA home improvement loan.

3. Obtain a Certificate of Eligibility through the U.S. Department of Veteran's Affairs by completing and submitting Form 26-1880, which can be downloaded from the department's website (see Resources below). This certificate must be presented to a lending institution in order for you to get a VA home improvement loan.

4. Find a lending institution that specializes in VA home improvement loans. In some cases, a credit counselor can help you through the process, or contact your local VA office who can direct you to a lender.

Tips & Warnings

• Spouses of veterans who died in active duty and who have not remarried are eligible to get a VA home improvement loan.

• Do not contact the Department of Veteran Affairs to get a VA home improvement loan. This department only guarantees loans, they do not process them.

• Do not attempt to take out a VA home improvement loan for more than 90 percent of the value of your home.

Resources

• Download a Request for a Certificate of Eligibility here.