It took six months to complete this evolution. The requirement of the VA to have the repair work completed BEFORE the loan could be closed created an ongoing situation of requiring one document after another, even though my retired/part-time employment was fully documented at the start. Additional requirements of inspections, water testing and change of roofing contractor caused delay after delay. While the closing did bring debt relief, the final cash-out was $20,000 less than initially requested (only $5,000 to me), meaning other home repair projects could not be attempted.
On a brighter note, Mr. Bernard Rocha was the epitome of professionalism and tenacity, trying to explain these requirements to a very frustrated client, and seeing this loan process through to completion.
I am a homeowner. I am NOT an electrician, a carpenter, a mason, or even a very good painter. The additional repairs required outside skills and up-front money that I didn't have. My overall impression, after three months, was New Day/VA didn't trust me to accomplish repairs to my house (that I've lived in for 26 years) on my own time, with money from this loan. It will now take more time and creative thinking for a kitchen renovation and bathroom renovation that my wife so dearly wanted.
Bottom Line: Yes, I would recommend this to a friend
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