Dan, Home Seller in Saint Louis County, MN

what does a home need to have in order to be eligible for a va loan?

Asked by Dan, Saint Louis County, MN Thu Sep 8, 2011

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6
It needs A VA Qualified buyer :)
0 votes Thank Flag Link Sat Sep 10, 2011
For the most part VA follows FHA guidelines on what requirements a home needs to meet. You can find FHA's property requirements at http://www.hud.gov/offices/adm/hudclips/handbooks/hsgh/4150.… - you should find Appendix D pretty helpful. You can actually call the Construction & Valuation department at the St. Paul, MN VA regional loan center (that is who covers Missouri) and ask them specifics about your property, their contact information is at http://benefits.va.gov/stpaul/rlc_contacts.asp and if you have any specific questions I'd be happy to help answer them too.
0 votes Thank Flag Link Sat Sep 10, 2011
Buyers not homes need to be eligible to for a VA loan, what a VA appraisal will look at in regards to the home is the condition of the property. If the property is in fairly good condition including no peeling paint you should be good to go for the most part.
Web Reference: http://www.lennyfrolov.com
0 votes Thank Flag Link Fri Sep 9, 2011
Dan,

I think it goes without saying but maybe not - a buyer who qualifies for a VA loan is necessary as well.

Cameron Piper
Coldwell Banker Burnet
licensed MN Broker
Web Reference: http://www.campiper.com
0 votes Thank Flag Link Thu Sep 8, 2011
Dan,
Any issues related to safety or functionality are generally considered. Anything related to electrical, plumbing, roof etc may be issues the underwriter considers.
0 votes Thank Flag Link Thu Sep 8, 2011
Va houses have to be liveable and functional. Consult a local VA lender they will give you the guidelines.
0 votes Thank Flag Link Thu Sep 8, 2011
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