I am proud to be an American.
My father and Mother were in the Navy in the late 50’s early 60s, and my husband was in the Army during the Vietnam War.
I am very blessed to work with so many Veteran clients.
Thank you so much for your service to our country.
When I went into real estate, I decided to be a VA specialist to give back in my way. It is a bit more complicated than doing a standard conventional loan. The VA is here to protect the Veteran. Therefore, they have set up guidelines for all types of properties.
Condos:
Are you looking to purchase a condo with your VA loan? The Department of VA has its own rules and guidelines for approving VA loan limits. You must verify that your condo community is VA-approved. Below is a link to check if the condo you are considering is approved.
VA approved condos – https://lgy.va.gov/lgyhub/
Will this home pass the VA appraisal process?
Below is a list of the basics I look for to get my client into a home.
The Department of Veterans Affairs utilizes a series of Minimum Property Requirements to qualify for a VA loan.
Single Family homes:
- Working and adequate electric, heating, and cooling systems
- Good roofing that will last the foreseeable future
- Sufficient in size for basic living necessities
- Clean, continuous water supply with sanitary facilities
- Free of lead-based paint
- Free of wood-destroying insects, fungus, and dry rot
- Safe and sanitary sewage disposal
- Accessible from an all-weather public or private street
- Attics and crawl spaces must be accessible and adequately vented
- Free of Broken windows
Manufactured homes:
- Manufactured homes will have a metal identification plate outside the structure. You might hear this called a “HUD tag” or a “red tag.”
- It must have been built after 1976. However, getting financing is tricky. I would shoot for a home that is 1990 or newer.
- Must have skirting and no chicken wire around the base (permanent foundation)
- Must own land and not rent it.
The Home must be Safe.
Homes purchased with VA loans must be safe. Period. The VA appraiser will examine each part of the home for potential safety hazards, which might include the following:
- Unsafe mechanical systems
- Unstable porches or decks
- Stairways without handrails
- Decks without guardrails
- Peeling paint on a pre-1979 home (This could be lead-based paint.)
- Exposed electrical wires
- Overloaded fuse box
The Home must be Structurally Sound.
Structural integrity is yet another essential requirement for homes purchased with VA loans. Major structural repairs can turn into heavy financial burdens for new home buyers. To help service members avoid costly surprises, VA appraisers will cautiously evaluate a home for structural weaknesses such as:
- Crumbling/cracked foundations
- Large holes in floors, walls, or ceilings
- Exposed exterior wood
- Dry rot
- Roof leaks or damage (roofs generally need to have at least five viable years remaining)
- Wet basements or crawl spaces
- Defective gutters/downspouts
- Poor ventilation
- Poor lot drainage
The Home must be Sanitary.
The Home must also meet rudimentary sanitation guidelines to garner final VA loan approval. Sanitary issues that could make a purchase “subject to” repair might include the following:
- Unsafe method of sewage disposal
- Termite or pest infestation
- Mold
- Water supply that is unsafe for human consumption
