CHICAGO, June 24, 2019 /PRNewswire/ -- Guaranteed Rate, one of the largest retail mortgage lenders in the nation, announces a new mortgage product created to help U.S. military veterans with home ownership.
The VA Renovation Loan is designed to help veterans purchase and renovate homes. Borrowers may finance up to 100 percent of the purchase and improvements price with up to four months to complete the project.
"Our goal is to provide more homebuying options for veterans, especially those looking to purchase in low-inventory areas," said Guaranteed Rate Renovation Leader, Tom Shelar. "These loans provide a way to purchase and more affordably create the homes of their dreams."
VA Renovation Loans offer up to $35,000 in funds to complete improvements and renovations, plus the benefits of a traditional VA loan, such as 100 percent financing options. Eligible upgrades include: basement remodeling, interior and exterior painting, driveway resurfacing, window, door, siding and roof replacements and other cosmetic improvements.
"It is a honor to represent our veterans, who have done so much to serve us all of us," said Shelar.
Since 2000, Guaranteed Rate has built a foundation of delivering competitive pricing, mortgage products and unmatched expertise from its top-producing loan officers, helping thousands of customers move into their dream homes. The company introduced the world's first Digital Mortgage, creating an easy-to-understand, transparent loan process, which has led to an industry-leading customer satisfaction rating and exponential growth.
About Guaranteed Rate Guaranteed Rate is one of the largest retail mortgage lenders in the United States. Headquartered in Chicago, the Company has more than 4,000 employees in nearly 350 offices across the U.S. and Washington, D.C., and is licensed in all 50 states. Since its founding in 2000, Guaranteed Rate has helped hundreds of thousands of homeowners with home purchase loans and refinances and funded more than $19 billion in loans in 2018 alone. The Company has cemented itself as the Home Purchase Experts® by introducing innovative technology, such as the world's first Digital Mortgage, by offering low rates within an easy-to-understand mortgage process and by delivering unparalleled customer service. Honors and awards include: "Top Lender for Online Service" for 2018 by U.S. News & World Report; No. 3 ranking in Scotsman Guide's Top Retail Mortgage Lenders 2017; Top Lender 2016, 2017 and 2018 by Chicago Agent magazine; Chicago Tribune's Top Workplaces list for seven consecutive years; and Best Overall Online Lender and Best Lender for FHA Refinance by NerdWallet in 2018. Visit rate.com for more information.
Applicants are subject to credit and underwriting approval. Not all applicants will be approved for financing. Restrictions may apply. Guaranteed Rate is not affiliated with the U.S. Department of Veterans Affairs.